Stevanato Group (NYSE:STVN) Trading Up 4.9% - Here's What Happened

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s share price shot up 4.9% during mid-day trading on Tuesday . The stock traded as high as €22.97 ($23.68) and last traded at €22.61 ($23.31). 235,373 shares were traded during trading, a decline of 53% from the average session volume of 498,169 shares. The stock had previously closed at €21.55 ($22.22).

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley reissued an "equal weight" rating and issued a $23.00 price target (down from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Bank of America raised their price target on shares of Stevanato Group from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Stevanato Group presently has a consensus rating of "Moderate Buy" and an average price target of €28.60 ($29.48).

Stevanato Group Stock Up 1.1 %

The stock has a 50 day moving average price of €20.40 and a 200 day moving average price of €19.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The company has a market capitalization of $6.44 billion, a P/E ratio of 46.36, a PEG ratio of 10.49 and a beta of 0.59.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC raised its stake in Stevanato Group by 5.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company's stock valued at $153,518,000 after acquiring an additional 400,087 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Stevanato Group by 67.6% in the third quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company's stock valued at $55,698,000 after purchasing an additional 1,123,104 shares during the period. Wellington Management Group LLP lifted its stake in shares of Stevanato Group by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company's stock valued at $53,872,000 after buying an additional 115,050 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Stevanato Group by 1.3% during the 3rd quarter. Bamco Inc. NY now owns 1,685,181 shares of the company's stock valued at $33,704,000 after buying an additional 21,469 shares in the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Stevanato Group by 24.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company's stock worth $21,411,000 after buying an additional 208,830 shares during the period.

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.