Fred Alger Management LLC Cuts Stock Position in Stevanato Group S.p.A. $STVN

Fred Alger Management LLC lessened its stake in shares of Stevanato Group S.p.A. (NYSE:STVN) by 11.7% in the third quarter, Holdings Channel reports. The institutional investor owned 902,314 shares of the company’s stock after selling 119,170 shares during the period. Fred Alger Management LLC’s holdings in Stevanato Group were worth $23,235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in Stevanato Group during the third quarter valued at $44,000. First Horizon Corp purchased a new stake in shares of Stevanato Group in the third quarter worth $50,000. State of Wyoming increased its holdings in shares of Stevanato Group by 39,216.7% during the second quarter. State of Wyoming now owns 2,359 shares of the company’s stock valued at $58,000 after acquiring an additional 2,353 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Stevanato Group during the third quarter valued at $68,000. Finally, Van Berkom & Associates Inc. raised its position in shares of Stevanato Group by 50.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,615 shares of the company’s stock worth $93,000 after purchasing an additional 1,215 shares during the last quarter.

Stevanato Group Trading Down 0.9%

Stevanato Group stock opened at €15.22 on Tuesday. Stevanato Group S.p.A. has a one year low of €13.91 and a one year high of €28.00. The business’s fifty day moving average is €16.94 and its 200 day moving average is €21.34. The stock has a market capitalization of $4.61 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.76 and a quick ratio of 1.26.

Wall Street Analysts Forecast Growth

STVN has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. KeyCorp decreased their target price on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Citigroup dropped their target price on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen cut shares of Stevanato Group from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Jefferies Financial Group set a $17.50 price target on shares of Stevanato Group in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Stevanato Group currently has an average rating of “Moderate Buy”.

Stevanato Group Profile

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.