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

Stevanato Group S.p.A. (NYSE:STVN) shares gapped down prior to trading on Friday. The stock had previously closed at €20.98, but opened at €20.07. Stevanato Group shares last traded at €20.31, with a volume of 2,157 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. TD Cowen upgraded Stevanato Group to a “strong-buy” rating in a research note on Wednesday, June 17th. Finally, UBS Group assumed coverage on Stevanato Group in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Stevanato Group Trading Up 1.5%

The business has a 50-day moving average price of €21.10 and a 200-day moving average price of €18.45. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $6.14 billion, a P/E ratio of 36.20, a PEG ratio of 1.71 and a beta of 0.78.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported €0.14 earnings per share for the quarter, missing analysts’ consensus estimates of €0.15 by (€0.01). Stevanato Group had a return on equity of 10.43% and a net margin of 10.99%.The business had revenue of €302.00 million for the quarter. Analysts anticipate that Stevanato Group S.p.A. will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Stevanato Group

In other Stevanato Group news, CFO Marco Dal Lago sold 4,209 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €84,558.81. Following the completion of the transaction, the chief financial officer owned 81,144 shares in the company, valued at €1,630,182.96. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elisabetta Magistretti sold 2,045 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of €20.09, for a total value of €41,084.05. Following the completion of the sale, the director owned 2,930 shares in the company, valued at approximately €58,863.70. This represents a 41.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,926 shares of company stock valued at $459,738 in the last 90 days. Insiders own 0.70% of the company’s stock.

Institutional Trading of Stevanato Group

Several institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in Stevanato Group during the second quarter worth $59,000. Fifth Third Bancorp boosted its stake in shares of Stevanato Group by 22.6% in the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock valued at $58,000 after purchasing an additional 773 shares in the last quarter. Hardy Reed LLC bought a new stake in shares of Stevanato Group in the 1st quarter worth about $147,000. Diversify Wealth Management LLC grew its holdings in shares of Stevanato Group by 23.9% in the 1st quarter. Diversify Wealth Management LLC now owns 18,353 shares of the company’s stock worth $252,000 after purchasing an additional 3,543 shares during the last quarter. Finally, First Bank & Trust increased its position in shares of Stevanato Group by 3.4% during the 2nd quarter. First Bank & Trust now owns 18,417 shares of the company’s stock worth $333,000 after purchasing an additional 603 shares in the last quarter.

About Stevanato Group

Stevanato Group S.p.A. is an Italy-based provider of drug-containment, drug-delivery and diagnostic solutions for the pharmaceutical, biotechnology and healthcare industries. The company serves customers across the development, production and administration of injectable medicines, with activities spanning pharmaceutical glass packaging, medical devices and manufacturing technologies.

Its product portfolio includes glass vials, cartridges, syringes and other primary containers, as well as ready-to-use packaging solutions such as EZ-fill.