Is Stevanato Group (STVN) A Smart Long-Term Buy?

ClearBridge Investments, an investment management firm, published its “SMID Cap Growth Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. During the third quarter, the ClearBridge SMID Cap Growth Strategy outperformed the benchmark Russell 2500 Growth Index. On an absolute basis, the Strategy had gains across five of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the health care sector the leading contributor and the consumer discretionary sector being the main detractor. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge SMID Cap Growth Strategy, in its Q3 2021 investor letter, mentioned Stevanato Group S.p.A. (NYSE: STVN) and discussed its stance on the firm. Stevanato Group S.p.A. is an Italy-based multinational company with a $5.9 billion market capitalization. STVN delivered a -3.46% return for the past month, and it closed at $22.58 per share on December 28, 2021.

Here is what ClearBridge SMID Cap Growth Strategy has to say about Stevanato Group S.p.A.  in its Q3 2021 investor letter:

“Within capital markets, the U.S. initial public offering (IPO) market remains active with $27 billion in deals during the third quarter, while chunky secondary offerings from private holders weighed on selected equities. We remained selective in the new issue market, participating in the IPO of Stevanato Group, a supplier to the biopharmaceutical industry that manufactures high-value sterile container closure systems, drug delivery systems and diagnostic products. From a strong competitive base in Europe, Stevanato is expanding its manufacturing and precision engineering footprint in the growth markets of North America and Asia.”

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Based on our calculations, Stevanato Group S.p.A. (NYSE: STVN) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. STVN was in 16 hedge fund portfolios at the end of the third quarter of 2021, compared to 0 funds in the previous quarter. Stevanato Group S.p.A. (NYSE: STVN) delivered a -13.65% return in the past 3 months.

In November this year, we also shared another hedge fund’s views on STVN in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.