Stevanato Group (NYSE:STVN) Stock Price Down 0.4% - Here's Why

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s stock price was down 0.4% during trading on Wednesday . The company traded as low as €17.98 ($19.13) and last traded at €18.07 ($19.22). Approximately 68,949 shares were traded during trading, a decline of 87% from the average daily volume of 511,718 shares. The stock had previously closed at €18.15 ($19.31).

Analyst Ratings Changes

Separately, Citigroup lowered their price objective on Stevanato Group from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th.

Stevanato Group Stock Up 0.4 %

The company's 50 day simple moving average is €19.46 and its 200-day simple moving average is €19.82. The firm has a market cap of $5.39 billion, a P/E ratio of 38.36, a PEG ratio of 8.55 and a beta of 0.58. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing analysts' consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. Research analysts forecast that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tri Locum Partners LP bought a new position in shares of Stevanato Group during the 2nd quarter valued at approximately $10,370,000. Thrivent Financial for Lutherans bought a new stake in shares of Stevanato Group during the 2nd quarter valued at $30,477,000. Thornburg Investment Management Inc. lifted its stake in shares of Stevanato Group by 279.1% during the 2nd quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company's stock valued at $13,690,000 after buying an additional 549,378 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in Stevanato Group by 56.8% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company's stock worth $7,228,000 after buying an additional 142,754 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Stevanato Group by 18.7% in the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company's stock worth $188,000 after buying an additional 1,613 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.

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