Stevanato Group (NYSE:STVN) Shares Up 1.7% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN)’s share price rose 1.7% on Thursday . The company traded as high as €18.74 ($19.73) and last traded at €18.58 ($19.56). Approximately 34,981 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 511,321 shares. The stock had previously closed at €18.27 ($19.23).

Analysts Set New Price Targets

Separately, Citigroup dropped their price target on shares of 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 Stock Up 5.9 %

The stock’s 50-day moving average price is €19.42 and its 200 day moving average price is €19.81. 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 issued its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of €277.90 million during the quarter, compared to analyst estimates of €274.36 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Pier Capital LLC raised its position in Stevanato Group by 44.5% in the 3rd quarter. Pier Capital LLC now owns 370,997 shares of the company’s stock valued at $7,420,000 after purchasing an additional 114,210 shares during the last quarter. Kensington Investment Counsel LLC purchased a new stake in Stevanato Group in the 3rd quarter valued at $1,308,000. Wellington Management Group LLP raised its position in Stevanato Group by 4.5% in the 3rd 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 last quarter. Bamco Inc. NY raised its position in Stevanato Group by 1.3% in the 3rd 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 during the last quarter. Finally, Fred Alger Management LLC raised its position in Stevanato Group by 24.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock valued at $21,411,000 after purchasing an additional 208,830 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.