Stevanato Group (NYSE:STVN) Shares Down 0.4% – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN)’s share price dropped 0.4% during trading on Tuesday . The company traded as low as €19.25 ($20.26) and last traded at €19.97 ($21.02). Approximately 28,083 shares traded hands during trading, a decline of 94% from the average daily volume of 506,196 shares. The stock had previously closed at €20.05 ($21.11).

Analyst Upgrades and Downgrades

STVN has been the subject of a number of analyst reports. Citigroup decreased their price objective on Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley reissued an “equal weight” rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday.

Stevanato Group Trading Up 0.2 %

The business has a 50 day moving average price of €19.50 and a 200-day moving average price of €19.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The business had revenue of €277.90 million during the quarter, compared to analyst estimates of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. As a group, equities analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

Institutional investors have recently modified their holdings of the business. Tri Locum Partners LP acquired a new position in shares of Stevanato Group during the 2nd quarter worth $10,370,000. Thrivent Financial for Lutherans acquired a new position in shares of Stevanato Group during the 2nd quarter worth $30,477,000. Thornburg Investment Management Inc. increased its holdings in shares of Stevanato Group by 279.1% during 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. Comgest Global Investors S.A.S. increased its holdings in shares of Stevanato Group by 56.8% during the second quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company’s stock worth $7,228,000 after buying an additional 142,754 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Stevanato Group by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock worth $719,000 after buying an additional 4,050 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.