Stevanato Group S.p.A. (NYSE:STVN) Sees Large Decrease in Short Interest

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,660,000 shares, a drop of 18.5% from the October 31st total of 4,490,000 shares. Based on an average trading volume of 545,200 shares, the short-interest ratio is presently 6.7 days. Currently, 7.4% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Citigroup decreased their target price 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 Performance

Shares of Stevanato Group stock traded up €0.03 ($0.03) during trading on Friday, reaching €20.03 ($21.08). The company's stock had a trading volume of 144,700 shares, compared to its average volume of 508,631. Stevanato Group has a 52 week low of €16.56 ($17.43) and a 52 week high of €34.73 ($36.56). The business's 50-day moving average price is €19.49 and its 200-day moving average price is €19.62. The firm has a market cap of $5.92 billion, a PE ratio of 42.62, a P/E/G ratio of 9.00 and a beta of 0.58. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

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

Institutional Investors Weigh In On Stevanato Group

A number of hedge funds have recently added to or reduced their stakes in STVN. Thrivent Financial for Lutherans acquired a new position in shares of Stevanato Group during the second quarter valued at about $30,477,000. Pembroke Management LTD raised its stake in Stevanato Group by 143.7% during the 3rd quarter. Pembroke Management LTD now owns 1,051,140 shares of the company's stock worth $21,023,000 after buying an additional 619,747 shares during the period. Tri Locum Partners LP bought a new position in Stevanato Group in the second quarter worth approximately $10,370,000. Thornburg Investment Management Inc. grew its stake in Stevanato Group by 279.1% in the second quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company's stock valued at $13,690,000 after acquiring an additional 549,378 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in shares of Stevanato Group by 7.3% during the second quarter. Conestoga Capital Advisors LLC now owns 7,275,823 shares of the company's stock worth $133,439,000 after purchasing an additional 496,930 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.