Stevanato Group (NYSE:STVN) Shares Up 3.9% - Here's Why

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s share price shot up 3.9% on Tuesday . The stock traded as high as €21.39 ($23.25) and last traded at €21.39 ($23.25). 126,061 shares traded hands during trading, a decline of 64% from the average session volume of 350,071 shares. The stock had previously closed at €20.58 ($22.37).

Analysts Set New Price Targets

Several research firms have weighed in on STVN. UBS Group dropped their price target on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Bank of America boosted their price target on Stevanato Group from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Wolfe Research initiated coverage on Stevanato Group in a research note on Friday, December 13th. They issued an "outperform" rating and a $28.00 target price on the stock. William Blair restated an "outperform" rating on shares of Stevanato Group in a research note on Friday, March 7th. Finally, Morgan Stanley reaffirmed 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of €27.75 ($30.16).

Stevanato Group Stock Up 3.9 %

The business has a fifty day simple moving average of €21.03 and a 200 day simple moving average of €20.60. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 7.18 and a beta of 0.60. 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 announced its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) EPS for the quarter, meeting 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 business had revenue of €352.68 million during the quarter, compared to analysts' expectations of €346.26 million. As a group, equities analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

A number of hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of Stevanato Group by 20.3% in the third quarter. Natixis Advisors LLC now owns 51,343 shares of the company's stock valued at $1,027,000 after purchasing an additional 8,669 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Stevanato Group by 22.6% in the third quarter. Raymond James Trust N.A. now owns 12,556 shares of the company's stock valued at $251,000 after purchasing an additional 2,317 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Stevanato Group by 16.9% in the third quarter. The Manufacturers Life Insurance Company now owns 294,235 shares of the company's stock valued at $5,885,000 after purchasing an additional 42,629 shares in the last quarter. Hardy Reed LLC grew its position in shares of Stevanato Group by 8.2% in the third quarter. Hardy Reed LLC now owns 11,077 shares of the company's stock valued at $222,000 after purchasing an additional 840 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of Stevanato Group by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company's stock valued at $719,000 after purchasing an additional 4,050 shares in the last quarter.

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.