Stevanato Group S.p.A. (NYSE:STVN) Sees Significant Drop in Short Interest

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

Stevanato Group Price Performance

Shares of NYSE STVN opened at €20.03 ($21.08) on Friday. The stock’s 50-day moving average is €19.49 and its 200 day moving average is €19.62. Stevanato Group has a 1-year low of €16.56 ($17.43) and a 1-year high of €34.73 ($36.56). The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The business had revenue of €277.90 million for the quarter, compared to analysts’ expectations 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 was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. On average, equities research analysts expect that Stevanato Group will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Stevanato Group

Several hedge funds have recently added to or reduced their stakes in STVN. Thrivent Financial for Lutherans bought a new stake in Stevanato Group in the second quarter valued at approximately $30,477,000. Pembroke Management LTD boosted its position in Stevanato Group by 143.7% during the 3rd quarter. Pembroke Management LTD now owns 1,051,140 shares of the company’s stock valued at $21,023,000 after buying an additional 619,747 shares during the period. Tri Locum Partners LP bought a new stake in Stevanato Group in the 2nd quarter worth $10,370,000. Thornburg Investment Management Inc. grew its holdings in Stevanato Group by 279.1% in the 2nd quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after acquiring an additional 549,378 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake 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 valued at $133,439,000 after acquiring an additional 496,930 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price objective on shares of Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th.

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.