Stevanato Group (NYSE:STVN) Shares Down 3.6% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN)’s stock price was down 3.6% during 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

STVN has been the subject of a number of analyst reports. Wolfe Research started coverage on shares of Stevanato Group in a research note on Friday, December 13th. They set an “outperform” rating and a $28.00 target price for the company. Bank of America boosted their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley reiterated an “equal weight” rating and set a $23.00 target price (down from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. UBS Group lowered their price target on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Stevanato Group in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of €27.75 ($29.84).

Stevanato Group Price Performance

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 company has a market capitalization of $6.35 billion, a P/E ratio of 44.64, a price-to-earnings-growth ratio of 7.18 and a beta of 0.60. The firm’s 50-day moving average is €21.04 and its 200-day moving average is €20.59.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings data on Thursday, March 6th. The company reported €0.20 ($0.22) EPS for the quarter, hitting the consensus estimate of €0.20 ($0.22). The firm had revenue of €352.68 million during the quarter, compared to analyst estimates of €346.26 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. Analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC raised its stake in Stevanato Group by 114.6% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company’s stock worth $71,657,000 after acquiring an additional 1,756,100 shares during the period. Jennison Associates LLC bought a new stake in shares of Stevanato Group during the 4th quarter valued at $20,239,000. Frontier Capital Management Co. LLC lifted its stake in shares of Stevanato Group by 1,012.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,003,235 shares of the company’s stock valued at $21,860,000 after buying an additional 913,019 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in Stevanato Group in the 4th quarter worth $13,848,000. Finally, Ranger Investment Management L.P. purchased a new stake in Stevanato Group in the 4th quarter worth $12,940,000.

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.