Citigroup Lowers Stevanato Group (NYSE:STVN) Price Target to $28.00

Stevanato Group (NYSE:STVN) had its price target dropped by stock analysts at Citigroup from $30.00 to $28.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other research firms have also recently commented on STVN. Morgan Stanley reduced their target price on Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. BNP Paribas assumed coverage on shares of Stevanato Group in a research note on Monday, April 22nd. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of €31.67 ($34.80).

Stevanato Group Stock Performance

Shares of NYSE:STVN traded down €0.25 ($0.27) during midday trading on Wednesday, reaching €19.62 ($21.56). 535,135 shares of the company traded hands, compared to its average volume of 516,819. The firm’s fifty day moving average price is €19.27 and its two-hundred day moving average price is €25.44. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 35.67, a price-to-earnings-growth ratio of 3.49 and a beta of 0.58. The company has a quick ratio of 1.35, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. Stevanato Group has a 12 month low of €16.56 ($18.20) and a 12 month high of €36.30 ($39.89).

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported €0.09 ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.10 ($0.11) by (€0.01) (($0.01)). The firm had revenue of €259.60 million during the quarter, compared to analysts’ expectations of €254.92 million. Stevanato Group had a return on equity of 12.61% and a net margin of 12.57%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities analysts expect that Stevanato Group will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Stevanato Group

Institutional investors and hedge funds have recently made changes to their positions in the business. SRS Capital Advisors Inc. boosted its stake in shares of Stevanato Group by 327.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,593 shares of the company’s stock valued at $43,000 after purchasing an additional 1,220 shares during the period. Hilltop National Bank boosted its position in Stevanato Group by 34.3% during the 2nd quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock valued at $81,000 after buying an additional 1,122 shares during the period. PNC Financial Services Group Inc. boosted its position in Stevanato Group by 54.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,089 shares of the company’s stock valued at $84,000 after buying an additional 1,086 shares during the period. Fifth Third Bancorp increased its position in shares of Stevanato Group by 62.1% in the fourth quarter. Fifth Third Bancorp now owns 4,009 shares of the company’s stock valued at $109,000 after acquiring an additional 1,536 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of Stevanato Group by 14.1% in the fourth quarter. First Horizon Advisors Inc. now owns 5,311 shares of the company’s stock valued at $145,000 after acquiring an additional 657 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.