Stevanato Group (NYSE:STVN) Shares Gap Up – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at €19.06 ($20.72), but opened at €19.99 ($21.73). Stevanato Group shares last traded at €19.29 ($20.97), with a volume of 97,308 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STVN. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. UBS Group decreased their price target on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating for the company in a research note on Friday. William Blair restated an “outperform” rating on shares of Stevanato Group in a research note on Friday. Wolfe Research started coverage on Stevanato Group in a research report on Friday, December 13th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Bank of America raised their price objective on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of €27.75 ($30.16).

Stevanato Group Stock Performance

The company has a fifty day moving average price of €21.38 and a two-hundred day moving average price of €20.52. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 7.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings results on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of €0.20 ($0.22). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The company had revenue of €352.68 million for the quarter, compared to analysts’ expectations of €346.26 million. As a group, equities research analysts expect that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STVN. Zions Bancorporation N.A. purchased a new stake in shares of Stevanato Group in the third quarter worth approximately $1,049,000. Sivik Global Healthcare LLC purchased a new stake in shares of Stevanato Group during the third quarter worth $2,800,000. King Wealth Management Group boosted its position in Stevanato Group by 30.2% during the third quarter. King Wealth Management Group now owns 94,800 shares of the company’s stock valued at $1,896,000 after purchasing an additional 22,000 shares during the last quarter. Royce & Associates LP grew its stake in Stevanato Group by 45.8% in the third quarter. Royce & Associates LP now owns 343,159 shares of the company’s stock valued at $6,863,000 after purchasing an additional 107,869 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in Stevanato Group by 20.3% in the 3rd quarter. Natixis Advisors LLC now owns 51,343 shares of the company’s stock worth $1,027,000 after purchasing an additional 8,669 shares during the last quarter.

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.