Stevanato Group (NYSE:STVN) Shares Gap Up – What’s Next?

Stevanato Group S.p.A. (NYSE:STVN) shares gapped up before the market opened on Friday . The stock had previously closed at €18.51, but opened at €19.29. Stevanato Group shares last traded at €19.05, with a volume of 122,876 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on STVN. Morgan Stanley cut their target price on Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Wolfe Research initiated coverage on shares of Stevanato Group in a research note on Tuesday. They issued an “outperform” rating and a $21.00 price objective for the company. Wall Street Zen downgraded shares of Stevanato Group from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Citigroup lowered their price target on Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, KeyCorp decreased their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Stevanato Group Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of €16.32 and a 200 day moving average of €17.79. The stock has a market capitalization of $5.69 billion, a P/E ratio of 32.06, a PEG ratio of 1.71 and a beta of 0.78.

Stevanato Group (NYSE:STVN) last posted its earnings results on Friday, May 8th. The company reported €0.11 earnings per share for the quarter, missing analysts’ consensus estimates of €0.12 by (€0.01). Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The business had revenue of €273.57 million during the quarter. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that Stevanato Group S.p.A. will post 0.68 EPS for the current fiscal year.

Stevanato Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.054 per share. The ex-dividend date is Thursday, June 11th. This represents a dividend yield of 29.0%.

Hedge Funds Weigh In On Stevanato Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GW&K Investment Management LLC grew its position in shares of Stevanato Group by 76.2% in the 4th quarter. GW&K Investment Management LLC now owns 2,440 shares of the company’s stock valued at $49,000 after purchasing an additional 1,055 shares during the period. Fifth Third Bancorp lifted its position in Stevanato Group by 22.6% during the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock worth $58,000 after buying an additional 773 shares in the last quarter. State of Wyoming boosted its position in Stevanato Group by 39,216.7% during the second quarter. State of Wyoming now owns 2,359 shares of the company’s stock valued at $58,000 after purchasing an additional 2,353 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Stevanato Group in the 3rd quarter valued at approximately $68,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Stevanato Group by 1,268.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,585 shares of the company’s stock valued at $112,000 after acquiring an additional 4,250 shares during the period.

Stevanato Group Company Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.