Lazard Asset Management LLC Sells 649,073 Shares of Stevanato Group S.p.A. (NYSE:STVN)

Lazard Asset Management LLC trimmed its holdings in Stevanato Group S.p.A. (NYSE:STVN) by 36.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,154,117 shares of the company’s stock after selling 649,073 shares during the quarter. Lazard Asset Management LLC’s holdings in Stevanato Group were worth $25,148,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp purchased a new position in Stevanato Group in the fourth quarter worth about $572,000. Mutual of America Capital Management LLC purchased a new position in Stevanato Group in the fourth quarter worth about $13,848,000. Advantage Alpha Capital Partners LP boosted its position in Stevanato Group by 27.3% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 293,865 shares of the company’s stock worth $6,403,000 after purchasing an additional 63,041 shares during the last quarter. Allianz SE purchased a new position in Stevanato Group in the fourth quarter worth about $748,000. Finally, Zions Bancorporation N.A. lifted its position in shares of Stevanato Group by 29.7% during the 4th quarter. Zions Bancorporation N.A. now owns 68,017 shares of the company’s stock valued at $1,482,000 after buying an additional 15,555 shares in the last quarter.

Stevanato Group Stock Performance

STVN stock opened at €24.42 ($27.44) on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is €21.30 and its two-hundred day simple moving average is €21.08. Stevanato Group S.p.A. has a twelve month low of €16.56 ($18.61) and a twelve month high of €24.90 ($27.98). The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 7.18 and a beta of 0.51.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of €0.20 ($0.22). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The business had revenue of €352.68 million for the quarter, compared to the consensus estimate of €346.26 million. Analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

Stevanato Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 5th will be given a dividend of $0.0613 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a yield of 0.3%. This is an increase from Stevanato Group’s previous annual dividend of $0.05. Stevanato Group’s dividend payout ratio (DPR) is presently 11.76%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group lowered their price objective on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a research report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Stevanato Group in a research report on Friday, March 7th. Finally, Stephens raised Stevanato Group to a “strong-buy” rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Stevanato Group has an average rating of “Moderate Buy” and an average price target of €25.70 ($28.88).

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.