Stevanato Group (NYSE:STVN) Trading Down 3.6% – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) shares dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as €21.28 ($22.88) and last traded at €21.54 ($23.16). Approximately 11,071 shares were traded during trading, a decline of 97% from the average daily volume of 341,550 shares. The stock had previously closed at €22.35 ($24.03).

Analyst Upgrades and Downgrades

Several research firms have weighed in on STVN. Bank of America upped their price target on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. UBS Group cut their target price on shares of Stevanato Group from $24.00 to $23.50 and set a “neutral” rating for the company in a research note on Friday, March 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. William Blair reaffirmed an “outperform” rating on shares of Stevanato Group in a report on Friday, March 7th. Finally, Wolfe Research started coverage on Stevanato Group in a research note on Friday, December 13th. They set an “outperform” rating and a $28.00 price target for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stevanato Group has an average rating of “Moderate Buy” and an average price target of €27.75 ($29.84).

Stevanato Group Trading Down 6.1 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The stock’s fifty day moving average is €21.04 and its 200 day moving average is €20.59. The stock has a market cap of $6.35 billion, a P/E ratio of 44.64, a P/E/G ratio of 7.18 and a beta of 0.60.

Stevanato Group (NYSE:STVN) last announced its earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of €0.20 ($0.22). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The firm had revenue of €352.68 million during the quarter, compared to analysts’ expectations of €346.26 million. As a group, equities research analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stevanato Group

Several hedge funds and other institutional investors have recently made changes to their positions in STVN. Van Berkom & Associates Inc. purchased a new position in shares of Stevanato Group during the fourth quarter valued at approximately $39,000. Johnson Financial Group Inc. bought a new stake in shares of Stevanato Group during the 4th quarter worth approximately $41,000. Wells Fargo & Company MN boosted its holdings in Stevanato Group by 680.3% during the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock valued at $71,000 after acquiring an additional 2,830 shares during the period. PNC Financial Services Group Inc. grew its position in Stevanato Group by 1,457.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company’s stock valued at $123,000 after acquiring an additional 5,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company’s stock worth $162,000 after purchasing an additional 4,965 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.