First Light Asset Management LLC Lowers Stock Holdings in Stevanato Group S.p.A. (NYSE:STVN)

First Light Asset Management LLC lessened its holdings in shares of Stevanato Group S.p.A. (NYSE:STVN) by 67.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 272,833 shares of the company’s stock after selling 563,152 shares during the quarter. First Light Asset Management LLC’s holdings in Stevanato Group were worth $5,004,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Hilltop National Bank boosted its holdings in Stevanato Group by 34.3% in the 2nd quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock worth $81,000 after acquiring an additional 1,122 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Stevanato Group by 54.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,089 shares of the company’s stock valued at $84,000 after purchasing an additional 1,086 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Stevanato Group by 109.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,867 shares of the company’s stock valued at $163,000 after purchasing an additional 4,626 shares in the last quarter. Raymond James Trust N.A. increased its stake in Stevanato Group by 18.7% during the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after buying an additional 1,613 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Stevanato Group by 59.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock worth $219,000 after buying an additional 4,441 shares in the last quarter.

Stevanato Group Stock Up 1.5 %

Shares of Stevanato Group stock opened at €19.55 ($21.72) on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.74 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of €20.26 and a 200 day moving average price of €22.60. Stevanato Group S.p.A. has a fifty-two week low of €16.56 ($18.40) and a fifty-two week high of €35.56 ($39.51). The firm has a market cap of $5.78 billion, a P/E ratio of 35.55, a P/E/G ratio of 5.50 and a beta of 0.59.

Stevanato Group (NYSE:STVN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported €0.09 ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of €0.10 ($0.11) by (€0.01) (($0.01)). Stevanato Group had a net margin of 11.27% and a return on equity of 10.89%. The firm had revenue of €259.60 million during the quarter, compared to the consensus estimate of €254.92 million. Stevanato Group’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. On average, sell-side analysts forecast that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on STVN shares. Citigroup dropped their target price on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of €29.25 ($32.50).

Stevanato Group Company Profile

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.