Stevanato Group (NYSE:STVN) Shares Gap Up - Here's What Happened

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at €19.06 ($20.72), but opened at €19.99 ($21.73). Stevanato Group shares last traded at €19.29 ($20.97), with a volume of 97,308 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America upped 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. Wolfe Research initiated coverage on Stevanato Group in a research report on Friday, December 13th. They set an "outperform" rating and a $28.00 price objective for the company. William Blair reiterated an "outperform" rating on shares of Stevanato Group in a research note on Friday. UBS Group reduced 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. Finally, Morgan Stanley reissued an "equal weight" rating and set a $23.00 price target (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 six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of €27.75 ($30.16).

Stevanato Group Trading Up 4.2 %

The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 47.79, a P/E/G ratio of 7.18 and a beta of 0.60. The business's fifty day simple moving average is €21.40 and its 200 day simple moving average is €20.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21.

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

Institutional Trading of Stevanato Group

A number of hedge funds have recently bought and sold shares of STVN. Zions Bancorporation N.A. purchased a new position in shares of Stevanato Group during the third quarter valued at $1,049,000. Sivik Global Healthcare LLC purchased a new position in Stevanato Group during the 3rd quarter valued at about $2,800,000. King Wealth Management Group increased its holdings in shares of Stevanato Group by 30.2% in the 3rd quarter. King Wealth Management Group now owns 94,800 shares of the company's stock valued at $1,896,000 after purchasing an additional 22,000 shares during the period. Royce & Associates LP lifted its position in shares of Stevanato Group by 45.8% in the third quarter. Royce & Associates LP now owns 343,159 shares of the company's stock worth $6,863,000 after purchasing an additional 107,869 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Stevanato Group by 20.3% during the third quarter. Natixis Advisors LLC now owns 51,343 shares of the company's stock worth $1,027,000 after purchasing an additional 8,669 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.