Stevanato Group (NYSE:STVN) Shares Up 0.4% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) shares rose 0.4% on Tuesday . The stock traded as high as €23.60 ($24.84) and last traded at €23.43 ($24.66). Approximately 124,784 shares changed hands during trading, a decline of 75% from the average daily volume of 499,775 shares. The stock had previously closed at €23.33 ($24.56).

Analyst Ratings Changes

A number of research firms have recently issued reports on STVN. Wolfe Research started coverage on shares of Stevanato Group in a research report on Friday. They set an “outperform” rating and a $28.00 price target for the company. Bank of America upped their target price on Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $23.00 price objective (down from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of €28.60 ($30.11).

Stevanato Group Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21. The business’s fifty day moving average is €19.76 and its 200-day moving average is €19.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hardy Reed LLC increased its position in Stevanato Group by 8.2% in the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock worth $222,000 after buying an additional 840 shares during the period. Lindenwold Advisors INC boosted its holdings in shares of Stevanato Group by 13.5% in the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after acquiring an additional 1,415 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Stevanato Group by 12.7% during the third quarter. Captrust Financial Advisors now owns 13,100 shares of the company’s stock valued at $262,000 after acquiring an additional 1,480 shares during the period. Raymond James Trust N.A. lifted its holdings 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 valued at $188,000 after buying an additional 1,613 shares during the period. Finally, First Bank & Trust boosted its stake in Stevanato Group by 29.1% during the third quarter. First Bank & Trust now owns 14,109 shares of the company’s stock valued at $282,000 after buying an additional 3,182 shares in the last quarter.

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.