Stevanato Group (NYSE:STVN) Sees Large Volume Increase – Here’s What Happened

Shares of Stevanato Group S.p.A. (NYSE:STVN) saw unusually-strong trading volume on Wednesday . Approximately 967,490 shares traded hands during mid-day trading, an increase of 176% from the previous session’s volume of 350,676 shares.The stock last traded at €20.64 ($21.50) and had previously closed at €20.91 ($21.78).

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Bank of America increased their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Wolfe Research assumed coverage on shares of Stevanato Group in a research note on Friday, December 13th. They issued an “outperform” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of €28.60 ($29.79).

Stevanato Group Price Performance

The stock has a market cap of $6.76 billion, a PE ratio of 47.47, a P/E/G ratio of 7.42 and a beta of 0.56. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21. The firm’s 50 day moving average price is €21.67 and its two-hundred day moving average price is €20.51.

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)). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The business had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect 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 business. nVerses Capital LLC bought a new stake in shares of Stevanato Group in the third quarter valued at about $84,000. Hardy Reed LLC lifted its holdings in Stevanato Group by 8.2% in the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after acquiring an additional 840 shares during the period. Lindenwold Advisors INC lifted its holdings in Stevanato Group by 13.5% in the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after acquiring an additional 1,415 shares during the period. Raymond James Trust N.A. raised its stake in shares of Stevanato Group by 22.6% during the 3rd quarter. Raymond James Trust N.A. now owns 12,556 shares of the company’s stock worth $251,000 after buying an additional 2,317 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Stevanato Group by 12.7% during the 3rd quarter. Captrust Financial Advisors now owns 13,100 shares of the company’s stock worth $262,000 after buying an additional 1,480 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.