Stevanato Group (NYSE:STVN) Trading Up 4.9% Following Analyst Upgrade

Shares of Stevanato Group S.p.A. (NYSE:STVN) rose 4.9% during trading on Friday after Bank of America raised their price target on the stock from $24.00 to $26.00. Bank of America currently has a buy rating on the stock. Stevanato Group traded as high as €24.90 ($26.21) and last traded at €23.57 ($24.81). Approximately 371,527 shares traded hands during trading, a decline of 26% from the average daily volume of 499,755 shares. The stock had previously closed at €22.47 ($23.65).

Several other equities analysts also recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price (down previously from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Wolfe Research began coverage on shares of Stevanato Group in a research note on Friday. They issued an “outperform” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Stevanato Group has a consensus rating of “Moderate Buy” and a consensus target price of €28.60 ($30.11).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STVN. Pier Capital LLC raised its position in Stevanato Group by 44.5% during the third quarter. Pier Capital LLC now owns 370,997 shares of the company’s stock valued at $7,420,000 after purchasing an additional 114,210 shares in the last quarter. Kensington Investment Counsel LLC acquired a new stake in shares of Stevanato Group in the 3rd quarter valued at approximately $1,308,000. Wellington Management Group LLP increased its position in Stevanato Group by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock worth $53,872,000 after purchasing an additional 115,050 shares in the last quarter. Bamco Inc. NY lifted its stake in 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 grew its stake in shares of Stevanato Group by 24.2% during the third quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock worth $21,411,000 after buying an additional 208,830 shares during the last quarter.

Stevanato Group Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The firm’s fifty day moving average price is €19.67 and its 200-day moving average price is €19.67.

Stevanato Group (NYSE:STVN) last released its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share 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 for 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 business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. On average, sell-side analysts anticipate that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

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.