Stevanato Group (NYSE:STVN) Shares Down 0.7% – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN)’s stock price traded down 0.7% during trading on Wednesday . The company traded as low as €19.49 ($20.52) and last traded at €19.89 ($20.94). 128,029 shares traded hands during trading, a decline of 75% from the average session volume of 509,156 shares. The stock had previously closed at €20.04 ($21.09).

Analysts Set New Price Targets

Separately, Citigroup reduced their target price on Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Stevanato Group Trading Down 0.2 %

The company’s 50 day moving average price is €19.47 and its two-hundred day moving average price is €19.63. 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 released its 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 during 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 for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. On average, research analysts anticipate that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hilltop National Bank boosted its holdings in Stevanato Group by 34.3% in the 2nd quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock valued at $81,000 after purchasing an additional 1,122 shares during the last quarter. nVerses Capital LLC purchased a new position in Stevanato Group in the third quarter worth approximately $84,000. Harbor Capital Advisors Inc. increased its stake in Stevanato Group by 109.1% during the second quarter. Harbor Capital Advisors Inc. now owns 8,867 shares of the company’s stock worth $163,000 after acquiring an additional 4,626 shares during the last quarter. Raymond James Trust N.A. raised its position in Stevanato Group by 18.7% in the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock valued at $188,000 after purchasing an additional 1,613 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake 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 valued at $219,000 after purchasing an additional 4,441 shares during the last quarter.

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.