Stevanato Group (NYSE:STVN) Trading Down 0.4% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) traded down 0.4% during trading on Wednesday . The stock traded as low as €17.98 ($18.93) and last traded at €18.07 ($19.02). 68,949 shares changed hands during trading, a decline of 87% from the average session volume of 511,718 shares. The stock had previously closed at €18.15 ($19.11).

Analysts Set New Price Targets

Separately, Citigroup lowered their target price 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.

Stevanato Group Price Performance

The company has a 50 day moving average price of €19.43 and a 200-day moving average price of €19.81. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last released its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The firm had revenue of €277.90 million for 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. On average, sell-side analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

A number of institutional investors and hedge funds have recently modified their holdings of STVN. Tri Locum Partners LP bought a new position in shares of Stevanato Group in the 2nd quarter worth $10,370,000. Thrivent Financial for Lutherans purchased a new stake in shares of Stevanato Group during the 2nd quarter valued at $30,477,000. Thornburg Investment Management Inc. increased its holdings in Stevanato Group by 279.1% in the 2nd quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after acquiring an additional 549,378 shares during the last quarter. Comgest Global Investors S.A.S. increased its holdings in Stevanato Group by 56.8% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company’s stock worth $7,228,000 after acquiring an additional 142,754 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Stevanato Group by 18.7% in the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after acquiring an additional 1,613 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.