Stevanato Group (NYSE:STVN) Stock Price Down 0.4% – What’s Next?

Stevanato Group S.p.A. (NYSE:STVN) traded down 0.4% during trading on Tuesday . The company traded as low as €19.25 ($20.26) and last traded at €19.97 ($21.02). 28,083 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 506,196 shares. The stock had previously closed at €20.05 ($21.11).

Analysts Set New Price Targets

A number of analysts recently weighed in on STVN shares. Citigroup reduced their target price on shares of Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley reissued an “equal weight” rating and set a $23.00 price objective (down from $24.00) on shares of Stevanato Group in a research note on Tuesday.

Stevanato Group Trading Up 0.8 %

The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is €19.49 and its two-hundred day moving average price is €19.60.

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

Institutional Trading of Stevanato Group

A number of hedge funds have recently made changes to their positions in the stock. Hilltop National Bank grew its position in Stevanato Group by 34.3% in the second quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock worth $81,000 after acquiring an additional 1,122 shares in the last quarter. nVerses Capital LLC acquired a new position in Stevanato Group in the 3rd quarter valued at approximately $84,000. Harbor Capital Advisors Inc. lifted its position in shares of Stevanato Group by 109.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,867 shares of the company’s stock worth $163,000 after acquiring an additional 4,626 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Stevanato Group by 18.7% during the 2nd quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Stevanato Group by 59.2% in the second 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 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.