Stevanato Group (NYSE:STVN) Shares Up 4.9% Following Analyst Upgrade

Stevanato Group S.p.A. (NYSE:STVN) rose 4.9% during mid-day 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). Approximately 371,527 shares were traded during trading, a decline of 26% from the average daily volume of 499,755 shares. The stock had previously closed at €22.47 ($23.65).

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

Institutional Investors Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Stevanato Group in the third quarter valued at $84,000. Raymond James Trust N.A. boosted its position in Stevanato Group by 18.7% during the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock valued at $188,000 after acquiring an additional 1,613 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Stevanato Group by 59.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock valued at $219,000 after purchasing an additional 4,441 shares during the period. Hardy Reed LLC boosted its position in shares of Stevanato Group by 8.2% during the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after purchasing an additional 840 shares in the last quarter. Finally, Lindenwold Advisors INC grew its stake in Stevanato Group by 13.5% in the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock worth $239,000 after purchasing an additional 1,415 shares during the period.

Stevanato Group Stock Up 5.0 %

The business has a fifty day simple moving average of €19.58 and a 200-day simple moving average of €19.65. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last issued its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. On average, equities analysts predict that Stevanato Group S.p.A. will post 0.5 earnings per share for the current year.

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.