Stevanato Group’s (STVN) “Equal Weight” Rating Reiterated at Morgan Stanley

Stevanato Group (NYSE:STVN)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $23.00 price target on the stock, down from their prior price target of $24.00.

Separately, Citigroup reduced their target price on Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Stevanato Group Stock Performance

Shares of STVN opened at €20.05 ($21.11) on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average is €19.49 and its 200-day moving average is €19.60. Stevanato Group has a fifty-two week low of €16.56 ($17.43) and a fifty-two week high of €34.73 ($36.56).

Stevanato Group (NYSE:STVN) last announced its quarterly 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)). The firm had revenue of €277.90 million during the quarter, compared to analyst estimates of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. Stevanato Group’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, analysts anticipate that Stevanato Group will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC boosted its holdings in Stevanato Group by 5.5% during the third quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company’s stock valued at $153,518,000 after acquiring an additional 400,087 shares during the period. Thrivent Financial for Lutherans raised its stake in Stevanato Group by 67.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company’s stock worth $55,698,000 after purchasing an additional 1,123,104 shares in the last quarter. Wellington Management Group LLP boosted its position in Stevanato Group by 4.5% in the third quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after buying an additional 115,050 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of 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 increased its holdings in Stevanato Group by 24.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock worth $21,411,000 after purchasing an additional 208,830 shares in the last quarter.

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.