Stevanato Group (NYSE:STVN) Shares Down 3.6% - Here's What Happened

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) was down 3.6% on Tuesday . The stock traded as low as €21.28 ($22.88) and last traded at €21.54 ($23.16). Approximately 11,071 shares traded hands during trading, a decline of 97% from the average daily volume of 341,550 shares. The stock had previously closed at €22.35 ($24.03).

Analysts Set New Price Targets

STVN has been the subject of several recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of Stevanato Group in a research report on Friday, March 7th. Bank of America raised their price objective on Stevanato Group from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. UBS Group dropped their target price on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wolfe Research assumed coverage on shares of Stevanato Group in a report on Friday, December 13th. They set an "outperform" rating and a $28.00 price target for the company. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of €25.70 ($27.63).

Stevanato Group Trading Down 2.0 %

The company has a fifty day moving average price of €21.01 and a 200-day moving average price of €20.59. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 7.18 and a beta of 0.60. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Remove Ads

Stevanato Group (NYSE:STVN - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of €0.20 ($0.22). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm had revenue of €352.68 million during the quarter, compared to analysts' expectations of €346.26 million. On average, equities research analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Stevanato Group

Several hedge funds have recently bought and sold shares of the business. Van Berkom & Associates Inc. acquired a new position in shares of Stevanato Group during the 4th quarter valued at about $39,000. Johnson Financial Group Inc. acquired a new position in Stevanato Group during the fourth quarter valued at approximately $41,000. Wells Fargo & Company MN raised its position in shares of Stevanato Group by 680.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock valued at $71,000 after purchasing an additional 2,830 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Stevanato Group by 1,457.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company's stock worth $123,000 after buying an additional 5,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Stevanato Group by 202.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company's stock worth $162,000 after buying an additional 4,965 shares during the period.

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.