Pier Capital LLC Increases Stake in Stevanato Group S.p.A. (NYSE:STVN)

Pier Capital LLC grew its stake in shares of Stevanato Group S.p.A. (NYSE:STVN) by 44.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,997 shares of the company’s stock after buying an additional 114,210 shares during the period. Pier Capital LLC’s holdings in Stevanato Group were worth $7,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of STVN. Hardy Reed LLC increased its holdings in Stevanato Group by 8.2% in the 3rd quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after acquiring an additional 840 shares during the last quarter. Lindenwold Advisors INC grew its position in shares of Stevanato Group by 13.5% during the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after purchasing an additional 1,415 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Stevanato Group by 12.7% in the third quarter. Captrust Financial Advisors now owns 13,100 shares of the company’s stock worth $262,000 after purchasing an additional 1,480 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Stevanato Group by 18.7% in the second 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 in the last quarter. Finally, First Bank & Trust lifted its position in shares of Stevanato Group by 29.1% in the third quarter. First Bank & Trust now owns 14,109 shares of the company’s stock worth $282,000 after buying an additional 3,182 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley restated an “equal weight” rating and set a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd.

Stevanato Group Stock Performance

STVN stock opened at €20.48 ($21.56) on Friday. Stevanato Group S.p.A. has a 52 week low of €16.56 ($17.43) and a 52 week high of €34.73 ($36.56). The company has a fifty day simple moving average of €19.46 and a two-hundred day simple moving average of €19.60. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The business had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Research analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

About Stevanato Group

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.