Stevanato Group (NYSE:STVN) Stock Price Up 4.9% on Analyst Upgrade

Stevanato Group S.p.A. (NYSE:STVN) traded up 4.9% during trading on Friday after Bank of America raised their price target on the stock from $24.00 to $26.00. Bank of America currently has a buy rating on the stock. Stevanato Group traded as high as €24.90 ($26.21) and last traded at €23.57 ($24.81). 371,527 shares changed hands during trading, a decline of 26% from the average session volume of 499,755 shares. The stock had previously closed at €22.47 ($23.65).

A number of other analysts have also recently commented on the stock. Morgan Stanley restated an “equal weight” rating and set a $23.00 price target (down from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Wolfe Research began coverage on Stevanato Group in a research report on Friday. They set an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of €28.60 ($30.11).

Institutional Trading of Stevanato Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pier Capital LLC increased its stake in Stevanato Group by 44.5% in the 3rd quarter. Pier Capital LLC now owns 370,997 shares of the company’s stock worth $7,420,000 after acquiring an additional 114,210 shares during the last quarter. Kensington Investment Counsel LLC purchased a new position in shares of Stevanato Group during the third quarter worth about $1,308,000. Wellington Management Group LLP increased its position in shares of Stevanato Group by 4.5% in the third quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock worth $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Bamco Inc. NY raised its stake in Stevanato Group by 1.3% in the third 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 in the last quarter. Finally, Fred Alger Management LLC lifted its position in Stevanato Group by 24.2% during the third 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.

Stevanato Group Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The stock’s 50 day simple moving average is €19.67 and its 200 day simple moving average is €19.67. The firm has a market cap of $6.89 billion, a PE ratio of 49.60, a PEG ratio of 9.79 and a beta of 0.59.

Stevanato Group (NYSE:STVN) last announced its quarterly 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)). The company had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, sell-side analysts forecast that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

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.