TimesSquare Capital Management LLC Purchases 1,756,100 Shares of Stevanato Group S.p.A. (NYSE:STVN)

TimesSquare Capital Management LLC grew its position in Stevanato Group S.p.A. (NYSE:STVN) by 114.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,288,529 shares of the company’s stock after acquiring an additional 1,756,100 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Stevanato Group were worth $71,657,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in Stevanato Group by 4.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock worth $53,872,000 after purchasing an additional 115,050 shares in the last quarter. Jennison Associates LLC acquired a new stake in Stevanato Group in the 4th quarter worth approximately $20,239,000. Glenmede Trust Co. NA boosted its stake in Stevanato Group by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock worth $719,000 after purchasing an additional 4,050 shares in the last quarter. AMI Asset Management Corp acquired a new stake in Stevanato Group in the 4th quarter worth approximately $1,089,000. Finally, Conestoga Capital Advisors LLC boosted its stake in Stevanato Group by 5.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 8,082,996 shares of the company’s stock worth $176,128,000 after purchasing an additional 407,086 shares in the last quarter.

Stevanato Group Stock Performance

STVN opened at €20.20 ($21.04) on Wednesday. Stevanato Group S.p.A. has a 12-month low of €16.56 ($17.25) and a 12-month high of €34.00 ($35.42). The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.12 billion, a PE ratio of 42.98, a P/E/G ratio of 6.86 and a beta of 0.56. The firm has a 50 day moving average of €21.89 and a two-hundred day moving average of €20.53.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STVN shares. Wolfe Research started coverage on shares of Stevanato Group in a research note on Friday, December 13th. They issued an “outperform” rating and a $28.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $23.00 target price (down from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Finally, Bank of America raised their price target on shares of Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Stevanato Group has a consensus rating of “Moderate Buy” and an average target price of €28.60 ($29.79).

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.