Stevanato Group (NYSE:STVN) Stock Price Down 0.3% – What’s Next?

Stevanato Group S.p.A. (NYSE:STVN)’s stock price traded down 0.3% on Monday . The stock traded as low as €22.79 ($23.99) and last traded at €23.23 ($24.45). 32,392 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 500,132 shares. The stock had previously closed at €23.31 ($24.54).

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley reissued an “equal weight” rating and set a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Finally, Wolfe Research assumed coverage on Stevanato Group in a research report on Friday. They issued an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stevanato Group has an average rating of “Moderate Buy” and an average price target of €28.60 ($30.11).

Stevanato Group Price Performance

The business has a 50 day simple moving average of €19.67 and a 200-day simple moving average of €19.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81.

Stevanato Group (NYSE:STVN) last released 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 firm had revenue of €277.90 million for the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. On average, analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Stevanato Group in the third quarter worth about $84,000. Raymond James Trust N.A. increased its stake in shares of Stevanato Group by 18.7% during the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after purchasing an additional 1,613 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Stevanato Group by 59.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock worth $219,000 after purchasing an additional 4,441 shares during the period. Hardy Reed LLC lifted its stake in Stevanato Group by 8.2% in the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after purchasing an additional 840 shares during the last quarter. Finally, Lindenwold Advisors INC grew its holdings in Stevanato Group by 13.5% during the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after purchasing an additional 1,415 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.