Stevanato Group (NYSE:STVN) Shares Down 0.7% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN)’s share price dropped 0.7% on Thursday . The stock traded as low as €19.73 ($20.77) and last traded at €19.97 ($21.02). Approximately 11,707 shares traded hands during trading, a decline of 98% from the average daily volume of 503,544 shares. The stock had previously closed at €20.11 ($21.17).

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STVN shares. Citigroup decreased their price target 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 target price (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday.

Stevanato Group Trading Up 0.8 %

The stock has a fifty day moving average price of €19.49 and a two-hundred day moving average price of €19.59. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last announced 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)). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The firm had revenue of €277.90 million for the quarter, compared to the consensus estimate of €274.36 million. During the same period in the previous year, the firm earned $0.16 EPS. Stevanato Group’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STVN. Conestoga Capital Advisors LLC grew its holdings in shares of Stevanato Group by 5.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company’s stock valued at $153,518,000 after acquiring an additional 400,087 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Stevanato Group by 67.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company’s stock valued at $55,698,000 after purchasing an additional 1,123,104 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Stevanato Group by 4.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of 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 lifted its stake in shares of Stevanato Group by 24.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock valued at $21,411,000 after purchasing an additional 208,830 shares during 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.