Key Points
- Director Madhavan Balachandran sold 1,493 Stevanato Group shares on June 15 for about €25,515 at an average price of €17.09. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- After the transaction, Balachandran still owned 69,458 shares, representing a 2.10% reduction in his stake. The stock sale was disclosed in an SEC filing.
- Stevanato Group shares were trading lower, and the company recently reported Q1 earnings of €0.11 per share, missing estimates by €0.01 even as revenue rose 6.6% year over year. Analyst sentiment remains generally positive, with an average rating of Buy.
Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) Director Madhavan Balachandran sold 1,493 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of €17.09, for a total value of €25,515.37. Following the completion of the transaction, the director owned 69,458 shares of the company's stock, valued at €1,187,037.22. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Stevanato Group Trading Down 3.3%
Shares of STVN stock opened at €17.79 on Friday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.69 and a beta of 0.78. Stevanato Group S.p.A. has a twelve month low of €12.89 and a twelve month high of €28.00. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21. The stock's fifty day simple moving average is €17.47 and its 200 day simple moving average is €17.26.
Stevanato Group (NYSE:STVN - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported €0.11 earnings per share for the quarter, missing the consensus estimate of €0.12 by (€0.01). Stevanato Group had a return on equity of 10.27% and a net margin of 11.76%.The firm had revenue of €273.57 million for the quarter. During the same quarter in the prior year, the business posted $0.10 EPS. The company's revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts predict that Stevanato Group S.p.A. will post 0.68 EPS for the current fiscal year.
Stevanato Group Cuts Dividend
The firm also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, June 11th will be given a $0.054 dividend. This represents a yield of 31.0%. The ex-dividend date is Thursday, June 11th.
Analyst Ratings Changes
STVN has been the topic of a number of recent research reports. Citigroup cut their price target on shares of Stevanato Group from $32.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. TD Cowen raised Stevanato Group to a "strong-buy" rating in a research report on Wednesday, June 17th. Morgan Stanley reduced their price target on Stevanato Group from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Friday, March 6th. Wolfe Research started coverage on Stevanato Group in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $21.00 price target for the company. Finally, KeyCorp cut their price objective on Stevanato Group from $37.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stevanato Group currently has an average rating of "Buy".
Check Out Our Latest Research Report on Stevanato Group
Institutional Trading of Stevanato Group
Institutional investors have recently bought and sold shares of the company. Conestoga Capital Advisors LLC grew its holdings in Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company's stock worth $116,762,000 after acquiring an additional 602,050 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Stevanato Group during the 4th quarter valued at about $9,269,000. Norges Bank acquired a new stake in Stevanato Group during the fourth quarter worth approximately $8,185,000. Credit Agricole S A acquired a new stake in Stevanato Group during the third quarter worth approximately $9,785,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Stevanato Group by 10.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company's stock worth $78,944,000 after purchasing an additional 368,792 shares in the last quarter.
About Stevanato Group
(
Get Free Report)
Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.
In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.
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