Stevanato Group (NYSE:STVN) Shares Gap Up – Still a Buy?

Stevanato Group S.p.A. (NYSE:STVN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at €17.36, but opened at €18.05. Stevanato Group shares last traded at €18.39, with a volume of 7,580 shares traded.

Analyst Upgrades and Downgrades

STVN has been the topic of a number of recent research reports. KeyCorp decreased their price objective on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Wolfe Research started coverage on Stevanato Group in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price target on the stock. TD Cowen upgraded Stevanato Group to a “strong-buy” rating in a report on Wednesday, June 17th. Weiss Ratings upgraded Stevanato Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Finally, Citigroup dropped their price objective on Stevanato Group from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Stevanato Group Stock Down 0.1%

The firm has a market cap of $5.75 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78. The firm’s 50 day moving average is €17.69 and its two-hundred day moving average is €17.15. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

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

Stevanato Group Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, June 11th will be issued a $0.054 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a dividend yield of 31.0%.

Insider Activity

In other Stevanato Group news, Director Madhavan Balachandran sold 1,493 shares of Stevanato Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of €17.09, for a total transaction of €25,515.37. Following the transaction, the director directly owned 69,458 shares in the company, valued at approximately €1,187,037.22. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Flynn sold 1,493 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of €17.09, for a total value of €25,515.37. Following the completion of the transaction, the director directly owned 5,757 shares of the company’s stock, valued at approximately €98,387.13. The trade was a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,972 shares of company stock worth $102,061 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Stevanato Group

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

About Stevanato Group

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.