Stevanato Group (NYSE:STVN) Upgraded by Wolfe Research to “Strong-Buy” Rating

Wolfe Research upgraded shares of Stevanato Group (NYSE:STVN) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other equities research analysts have also commented on STVN. Citigroup reduced their price target on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Jefferies Financial Group set a $17.50 price objective on shares of Stevanato Group in a research note on Tuesday, February 10th. Weiss Ratings lowered shares of Stevanato Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 11th. Morgan Stanley cut their target price on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, March 6th. Finally, KeyCorp cut their target price on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Stevanato Group Stock Performance

Shares of STVN stock opened at €18.92 on Monday. The company has a 50 day moving average price of €16.08 and a 200-day moving average price of €17.88. Stevanato Group has a 52 week low of €12.89 and a 52 week high of €28.00. The firm has a market capitalization of $5.73 billion, a PE ratio of 32.07, a P/E/G ratio of 1.74 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Friday, May 8th. The company reported €0.11 EPS for the quarter, missing analysts’ consensus estimates of €0.12 by (€0.01). Stevanato Group had a return on equity of 10.27% and a net margin of 11.76%.The company had revenue of €273.57 million during the quarter. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that Stevanato Group will post 0.68 earnings per share for the current year.

Stevanato Group Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Thursday, June 11th will be given a dividend of $0.054 per share. This represents a yield of 29.0%. The ex-dividend date is Thursday, June 11th.

Institutional Trading of Stevanato Group

Several large investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC grew its position in Stevanato Group by 7.6% during the first quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock valued at $116,762,000 after buying an additional 602,050 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Stevanato Group by 10.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company’s stock worth $78,944,000 after purchasing an additional 368,792 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Stevanato Group by 7.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,500,321 shares of the company’s stock worth $70,426,000 after purchasing an additional 232,645 shares during the period. Bamco Inc. NY boosted its position in shares of Stevanato Group by 1.4% in the fourth quarter. Bamco Inc. NY now owns 2,001,724 shares of the company’s stock worth $40,275,000 after purchasing an additional 27,965 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Stevanato Group by 13.7% in the fourth quarter. Jennison Associates LLC now owns 1,772,896 shares of the company’s stock worth $35,671,000 after purchasing an additional 213,602 shares during the period.

About Stevanato Group

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.