Stevanato Group (NYSE:STVN) Earns Equal Weight Rating from Morgan Stanley

Stevanato Group (NYSE:STVN)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $23.00 target price on the stock, down from their previous target price of $24.00.

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

Stevanato Group Price Performance

Shares of NYSE:STVN opened at €20.05 ($21.11) on Tuesday. The business has a 50-day moving average price of €19.49 and a 200-day moving average price of €19.60. 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 has a 52-week low of €16.56 ($17.43) and a 52-week high of €34.73 ($36.56).

Stevanato Group (NYSE:STVN) last posted its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The firm had revenue of €277.90 million during the quarter, compared to analysts’ expectations 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 firm posted $0.16 earnings per share. As a group, equities research analysts predict that Stevanato Group will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Pier Capital LLC boosted its stake in Stevanato Group by 44.5% during the third quarter. Pier Capital LLC now owns 370,997 shares of the company’s stock valued at $7,420,000 after buying an additional 114,210 shares during the last quarter. Kensington Investment Counsel LLC acquired a new position in shares of Stevanato Group during the third quarter worth about $1,308,000. Wellington Management Group LLP increased its stake in Stevanato Group by 4.5% in the third quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after purchasing an additional 115,050 shares during the period. Bamco Inc. NY increased its holdings in Stevanato Group by 1.3% in the third quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock valued at $33,704,000 after buying an additional 21,469 shares in the last quarter. Finally, Fred Alger Management LLC boosted its stake in shares of Stevanato Group by 24.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock worth $21,411,000 after purchasing an additional 208,830 shares during the last quarter.

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.