Stevanato Group (NYSE:STVN) Shares Gap Up – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) shares gapped up before the market opened on Monday . The stock had previously closed at €22.38, but opened at €23.39. Stevanato Group shares last traded at €23.35, with a volume of 58,673 shares traded.

Analyst Upgrades and Downgrades

STVN has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stevanato Group in a research note on Monday, November 17th. Morgan Stanley boosted their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Stevanato Group Stock Performance

The company has a current ratio of 1.89, a quick ratio of 1.30 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average is €24.90 and its two-hundred day moving average is €24.31. The stock has a market capitalization of $7.15 billion, a P/E ratio of 41.39, a P/E/G ratio of 2.20 and a beta of 0.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in Stevanato Group by 16.9% in the first quarter. Envestnet Asset Management Inc. now owns 162,770 shares of the company’s stock worth $3,324,000 after acquiring an additional 23,545 shares in the last quarter. Raymond James Financial Inc. raised its position in Stevanato Group by 77.4% during the first quarter. Raymond James Financial Inc. now owns 468,475 shares of the company’s stock valued at $9,566,000 after buying an additional 204,391 shares during the period. Bar Harbor Wealth Management acquired a new stake in shares of Stevanato Group during the second quarter worth approximately $9,081,000. LPL Financial LLC grew its stake in Stevanato Group by 35.4% in the first quarter. LPL Financial LLC now owns 116,060 shares of the company’s stock valued at $2,250,000 after purchasing an additional 30,339 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Stevanato Group by 6.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 707,123 shares of the company’s stock valued at $17,275,000 after buying an additional 43,389 shares in 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.