Stevanato Group (NYSE:STVN) Shares Gap Down - Here's Why

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at €21.76 ($23.65), but opened at €21.20 ($23.04). Stevanato Group shares last traded at €21.53 ($23.40), with a volume of 10,034 shares.

Analyst Ratings Changes

STVN has been the subject of a number of recent analyst reports. William Blair restated an "outperform" rating on shares of Stevanato Group in a report on Friday, March 7th. Bank of America lifted their target price on Stevanato Group from $24.00 to $26.00 and gave the company a "buy" rating in a report on Friday, December 13th. Wolfe Research began coverage on Stevanato Group in a research note on Friday, December 13th. They set an "outperform" rating and a $28.00 price target for the company. UBS Group decreased their target price on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of €27.75 ($30.16).

Stevanato Group Trading Up 3.9 %

The firm has a fifty day moving average of €21.03 and a 200 day moving average of €20.59. The firm has a market capitalization of $6.82 billion, a PE ratio of 47.91, a P/E/G ratio of 7.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81.

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Stevanato Group (NYSE:STVN - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of €352.68 million for the quarter, compared to analyst estimates of €346.26 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. Equities research analysts expect that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Stevanato Group

A number of institutional investors have recently added to or reduced their stakes in STVN. Van Berkom & Associates Inc. purchased a new stake in shares of Stevanato Group during the fourth quarter worth about $39,000. Johnson Financial Group Inc. acquired a new stake in Stevanato Group during the 4th quarter valued at approximately $41,000. Wells Fargo & Company MN increased its holdings in Stevanato Group by 680.3% during the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company's stock worth $71,000 after purchasing an additional 2,830 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Stevanato Group by 1,457.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company's stock valued at $123,000 after purchasing an additional 5,291 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake 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 valued at $162,000 after buying an additional 4,965 shares during 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.