Stevanato Group (NYSE:STVN) Stock Gets Price Target Reduction from Citigroup

Stevanato Group (NYSE:STVN) had its target price cut by Citigroup from $26.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

STVN has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Stevanato Group in a report on Wednesday, October 7th. They issued a “hold” rating on the stock. Weiss Ratings upgraded Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. UBS Group initiated coverage on Stevanato Group in a research note on Wednesday, September 9th. They set a “neutral” rating and a $23.00 price target for the company. Finally, William Blair cut Stevanato Group from an “outperform” rating to a “market perform” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Stevanato Group Price Performance

STVN traded up €0.25 during trading on Wednesday, hitting €13.46. 1,365,000 shares of the company traded hands, compared to its average volume of 558,109. The company has a market cap of $4.08 billion, a PE ratio of 23.20, a P/E/G ratio of 1.62 and a beta of 0.80. The stock’s 50-day simple moving average is €19.80 and its two-hundred day simple moving average is €18.01. Stevanato Group has a 1 year low of €12.05 and a 1 year high of €25.45. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.21.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported €0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.17 by (€0.01). The company had revenue of €326.06 million during the quarter. Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. As a group, sell-side analysts anticipate that Stevanato Group will post 0.67 earnings per share for the current fiscal year.

Insider Activity at Stevanato Group

In other news, insider Mauro Stocchi sold 13,649 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of €21.50, for a total value of €293,453.50. Following the sale, the insider directly owned 400,000 shares in the company, valued at approximately €8,600,000. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Stevanato Group

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in Stevanato Group in the 2nd quarter valued at $59,000. State of Wyoming bought a new stake in shares of Stevanato Group during the third quarter worth $75,000. Fifth Third Bancorp boosted its stake in shares of Stevanato Group by 22.6% during the first quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock valued at $58,000 after purchasing an additional 773 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Stevanato Group by 23.9% during the first quarter. Diversify Wealth Management LLC now owns 18,353 shares of the company’s stock valued at $252,000 after purchasing an additional 3,543 shares during the period. Finally, First Bank & Trust grew its holdings in shares of Stevanato Group by 3.4% in the second quarter. First Bank & Trust now owns 18,417 shares of the company’s stock worth $333,000 after purchasing an additional 603 shares during the last quarter.

About Stevanato Group

Stevanato Group S.p.A. is an Italy-based provider of drug-containment and drug-delivery solutions for the pharmaceutical, biotechnology and healthcare industries. Founded in 1949, the company has developed from a glass-packaging manufacturer into an integrated supplier serving customers throughout the global pharmaceutical supply chain.

The company manufactures primary packaging products, including glass vials, syringes, cartridges and ampoules, as well as components and systems used to contain and administer injectable medicines.