Stevanato Group (NYSE:STVN) Shares Up 4.9% on Analyst Upgrade

Shares of Stevanato Group S.p.A. (NYSE:STVN) shot up 4.9% on Friday after Bank of America raised their price target on the stock from $24.00 to $26.00. Bank of America currently has a buy rating on the stock. Stevanato Group traded as high as €24.90 ($26.21) and last traded at €23.57 ($24.81). 371,527 shares were traded during mid-day trading, a decline of 26% from the average session volume of 499,755 shares. The stock had previously closed at €22.47 ($23.65).

A number of other equities analysts also recently issued reports on STVN. Morgan Stanley reissued an “equal weight” rating and issued a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Wolfe Research assumed coverage on Stevanato Group in a report on Friday. They issued an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of €28.60 ($30.11).

Institutional Investors Weigh In On Stevanato Group

Several institutional investors and hedge funds have recently modified their holdings of STVN. Conestoga Capital Advisors LLC increased its holdings in shares of Stevanato Group by 5.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company’s stock worth $153,518,000 after buying an additional 400,087 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Stevanato Group by 67.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company’s stock valued at $55,698,000 after purchasing an additional 1,123,104 shares during the last quarter. Wellington Management Group LLP raised its position 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 during the period. Bamco Inc. NY boosted its position in shares of Stevanato Group by 1.3% during the third quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock valued at $33,704,000 after buying an additional 21,469 shares during the period. Finally, Fred Alger Management LLC grew its stake in shares of Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock valued at $21,411,000 after buying an additional 208,830 shares during the last quarter.

Stevanato Group Trading Up 5.0 %

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 firm has a fifty day moving average price of €19.58 and a two-hundred day moving average price of €19.65.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The company had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. During the same period last year, the firm earned $0.16 earnings per share. Stevanato Group’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

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.