Stevanato Group (NYSE:STVN) Stock Price Up 1.7% – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) traded up 1.7% during trading on Thursday . The company traded as high as €22.34 ($23.52) and last traded at €22.14 ($23.31). 44,183 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 499,598 shares. The stock had previously closed at €21.76 ($22.91).

Analyst Ratings Changes

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price target (down from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd.

Stevanato Group Trading Up 1.7 %

The firm has a market cap of $6.54 billion, a P/E ratio of 47.11, a P/E/G ratio of 9.22 and a beta of 0.59. The company’s 50 day simple moving average is €19.53 and its 200-day simple moving average is €19.63. 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 announced its quarterly earnings results 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 company had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, research analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Stevanato Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Stevanato Group during the 3rd quarter valued at about $84,000. Raymond James Trust N.A. raised its holdings in shares of Stevanato Group by 18.7% in the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after buying an additional 1,613 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Stevanato Group by 59.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock worth $219,000 after buying an additional 4,441 shares during the period. Hardy Reed LLC grew its holdings in shares of Stevanato Group by 8.2% during the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after buying an additional 840 shares during the last quarter. Finally, Lindenwold Advisors INC increased its position in shares of Stevanato Group by 13.5% in the 3rd quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after acquiring an additional 1,415 shares during the period.

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.