Morgan Stanley Reaffirms Equal Weight Rating for Stevanato Group (NYSE:STVN)

Stevanato Group (NYSE:STVN)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a report released on Tuesday, Marketbeat reports. They currently have a $23.00 price objective on the stock, down from their prior price objective of $24.00.

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

Stevanato Group Price Performance

Stevanato Group stock opened at €20.11 ($21.17) on Tuesday. 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 business’s fifty day simple moving average is €19.50 and its two-hundred day simple moving average is €19.59. Stevanato Group has a 12 month low of €16.56 ($17.43) and a 12 month high of €34.73 ($36.56).

Stevanato Group (NYSE:STVN) last released its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. Equities analysts expect that Stevanato Group will post 0.5 earnings per share for the current year.

Institutional Trading of Stevanato Group

A number of hedge funds have recently bought and sold shares of STVN. Thrivent Financial for Lutherans purchased a new stake in Stevanato Group during the second quarter valued at $30,477,000. Pembroke Management LTD increased its position in Stevanato Group by 143.7% in the third quarter. Pembroke Management LTD now owns 1,051,140 shares of the company’s stock worth $21,023,000 after buying an additional 619,747 shares in the last quarter. Tri Locum Partners LP purchased a new stake in Stevanato Group in the second quarter worth about $10,370,000. Thornburg Investment Management Inc. increased its position in Stevanato Group by 279.1% in the second quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after buying an additional 549,378 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Stevanato Group by 7.3% in the second quarter. Conestoga Capital Advisors LLC now owns 7,275,823 shares of the company’s stock worth $133,439,000 after buying an additional 496,930 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.