Stevanato Group (NYSE:STVN) Stock Price Down 1.4% – What’s Next?

Shares of Stevanato Group S.p.A. (NYSE:STVN) dropped 1.4% during mid-day trading on Tuesday . The company traded as low as €19.47 ($20.49) and last traded at €19.64 ($20.67). Approximately 35,237 shares traded hands during trading, a decline of 93% from the average daily volume of 509,774 shares. The stock had previously closed at €19.92 ($20.97).

Analyst Upgrades and Downgrades

Separately, Citigroup cut their price objective 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 Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21. The firm’s 50-day simple moving average is €19.47 and its 200-day simple moving average is €19.63.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The firm had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pier Capital LLC raised its holdings in shares of Stevanato Group by 44.5% in the third quarter. Pier Capital LLC now owns 370,997 shares of the company’s stock valued at $7,420,000 after acquiring an additional 114,210 shares in the last quarter. Kensington Investment Counsel LLC bought a new stake in shares of Stevanato Group in the 3rd quarter valued at about $1,308,000. Wellington Management Group LLP lifted its position in shares of Stevanato Group by 4.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock worth $53,872,000 after purchasing an additional 115,050 shares during the period. Bamco Inc. NY boosted its stake in shares of Stevanato Group by 1.3% during the third quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock valued at $33,704,000 after purchasing an additional 21,469 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock valued at $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.