Stevanato Group (NYSE:STVN) Trading Down 5.8% – Should You Sell?

Stevanato Group S.p.A. (NYSE:STVN)’s share price traded down 5.8% during trading on Thursday . The stock traded as low as €18.37 ($19.14) and last traded at €18.92 ($19.71). 148,637 shares traded hands during trading, a decline of 53% from the average session volume of 318,198 shares. The stock had previously closed at €20.09 ($20.93).

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 target price (down from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. Wolfe Research began coverage on Stevanato Group in a research report on Friday, December 13th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Bank of America raised their target price on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of €28.60 ($29.79).

Stevanato Group Price Performance

The company has a market capitalization of $5.89 billion, a PE ratio of 41.38, a P/E/G ratio of 7.89 and a beta of 0.56. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of €21.97 and a 200-day simple moving average of €20.53.

Hedge Funds Weigh In On Stevanato Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in STVN. Ranger Investment Management L.P. acquired a new stake in shares of Stevanato Group in the 4th quarter worth approximately $12,940,000. Raymond James Financial Inc. purchased a new stake in Stevanato Group in the 4th quarter valued at approximately $5,754,000. Wells Fargo & Company MN lifted its stake in Stevanato Group by 680.3% in the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock valued at $71,000 after buying an additional 2,830 shares in the last quarter. Cinctive Capital Management LP lifted its stake in Stevanato Group by 241.3% in the 4th quarter. Cinctive Capital Management LP now owns 83,156 shares of the company’s stock valued at $1,812,000 after buying an additional 58,792 shares in the last quarter. Finally, Allianz SE purchased a new stake in Stevanato Group in the 4th quarter valued at approximately $748,000.

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.