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

Stevanato Group S.p.A. (NYSE:STVN) gapped down before the market opened on Wednesday . The stock had previously closed at €21.76 ($23.91), but opened at €21.20 ($23.30). Stevanato Group shares last traded at €21.53 ($23.66), with a volume of 10,034 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STVN. UBS Group dropped their price target on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Morgan Stanley reissued an “equal weight” rating and issued a $23.00 target price (down from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Wolfe Research started coverage on shares of Stevanato Group in a research report on Friday, December 13th. They issued an “outperform” rating and a $28.00 price target for the company. Bank of America lifted their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, William Blair restated an “outperform” rating on shares of Stevanato Group in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of €27.75 ($30.49).

Stevanato Group Stock Down 0.9 %

The business’s 50 day simple moving average is €21.12 and its 200-day simple moving average is €20.58. 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 company has a market cap of $6.53 billion, a price-to-earnings ratio of 45.87, a price-to-earnings-growth ratio of 7.18 and a beta of 0.60.

Stevanato Group (NYSE:STVN) last released its quarterly earnings data on Thursday, March 6th. The company reported €0.20 ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of €0.20 ($0.22). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The firm had revenue of €352.68 million during the quarter, compared to analysts’ expectations of €346.26 million. Sell-side analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van Berkom & Associates Inc. acquired a new position in shares of Stevanato Group during the 4th quarter worth $39,000. Johnson Financial Group Inc. acquired a new stake in shares of Stevanato Group in the fourth quarter worth $41,000. Wells Fargo & Company MN boosted its holdings in shares of Stevanato Group by 680.3% during the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock worth $71,000 after buying an additional 2,830 shares during the period. PNC Financial Services Group Inc. grew its stake in Stevanato Group by 1,457.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company’s stock valued at $123,000 after buying an additional 5,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Stevanato Group by 202.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company’s stock worth $162,000 after acquiring an additional 4,965 shares during the period.

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.