Stevanato Group (NYSE:STVN) Shares Down 7.8% – What’s Next?

Stevanato Group S.p.A. (NYSE:STVN)’s share price dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as €20.71 ($22.51) and last traded at €20.83 ($22.64). Approximately 76,087 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 345,984 shares. The stock had previously closed at €22.60 ($24.57).

Wall Street Analysts Forecast Growth

STVN has been the subject of a number of research reports. Bank of America boosted their price target on shares of Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 13th. 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 research report on Tuesday, December 3rd. UBS Group cut their target price on shares of Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a report on Friday. William Blair reiterated an “outperform” rating on shares of Stevanato Group in a research note on Friday. Finally, Wolfe Research started 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 on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of €27.75 ($30.16).

Stevanato Group Price Performance

The company has a market cap of $6.42 billion, a PE ratio of 45.11, a price-to-earnings-growth ratio of 7.18 and a beta of 0.60. The stock has a fifty day simple moving average of €21.40 and a two-hundred day simple moving average of €20.57. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

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

Institutional Trading of Stevanato Group

Institutional investors have recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. acquired a new stake in shares of Stevanato Group during the 4th quarter valued at approximately $39,000. Johnson Financial Group Inc. acquired a new position in Stevanato Group during the fourth quarter worth $41,000. Wells Fargo & Company MN boosted its position in Stevanato Group by 680.3% during the fourth quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock worth $71,000 after purchasing an additional 2,830 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Stevanato Group by 1,457.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company’s stock valued at $123,000 after purchasing an additional 5,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company’s stock valued at $162,000 after buying an additional 4,965 shares in 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.