Stevanato Group (NYSE:STVN) Trading 3.9% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America lifted their target price on shares of Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley restated an “equal weight” rating and set a $23.00 target price (down from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. UBS Group cut their price target on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating for the company in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Stevanato Group in a research note on Friday, March 7th. Finally, Wolfe Research initiated coverage on Stevanato Group in a research note on Friday, December 13th. They set an “outperform” rating and a $28.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of €27.75 ($30.16).

Stevanato Group Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $6.59 billion, a PE ratio of 46.30, a PEG ratio of 7.18 and a beta of 0.60. The company’s 50 day moving average price is €21.08 and its 200-day moving average price is €20.59.

Stevanato Group (NYSE:STVN) last issued its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share 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 firm had revenue of €352.68 million for the quarter, compared to analysts’ expectations of €346.26 million. On average, sell-side analysts forecast that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. purchased a new position in Stevanato Group in the fourth quarter valued at about $39,000. Johnson Financial Group Inc. purchased a new position in Stevanato Group in the fourth quarter valued at about $41,000. Wells Fargo & Company MN raised its position in Stevanato Group by 680.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock valued at $71,000 after purchasing an additional 2,830 shares during the period. PNC Financial Services Group Inc. raised its position in Stevanato Group by 1,457.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company’s stock valued at $123,000 after purchasing an additional 5,291 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company’s stock valued at $162,000 after purchasing an additional 4,965 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.