Stevanato Group (NYSE:STVN) Sees Large Volume Increase – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) saw an uptick in trading volume on Wednesday . 967,490 shares changed hands during mid-day trading, an increase of 176% from the previous session’s volume of 350,676 shares.The stock last traded at €20.64 ($21.50) and had previously closed at €20.91 ($21.78).

Wall Street Analysts Forecast Growth

STVN has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $23.00 price target (down previously 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 note on Friday, December 13th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Bank of America raised their price objective on shares of Stevanato Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of €28.60 ($29.79).

Stevanato Group Trading Up 1.8 %

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 firm has a 50-day moving average of €21.57 and a 200-day moving average of €20.49. The firm has a market capitalization of $6.45 billion, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 7.45 and a beta of 0.56.

Stevanato Group (NYSE:STVN) last posted 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)). 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 the consensus estimate of €274.36 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Stevanato Group in the 3rd quarter worth about $84,000. Hardy Reed LLC grew its holdings in Stevanato Group by 8.2% in the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock worth $222,000 after purchasing an additional 840 shares during the period. Lindenwold Advisors INC increased its stake in shares of Stevanato Group by 13.5% during the third quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after purchasing an additional 1,415 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Stevanato Group by 22.6% during the third quarter. Raymond James Trust N.A. now owns 12,556 shares of the company’s stock valued at $251,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Stevanato Group by 12.7% in the 3rd quarter. Captrust Financial Advisors now owns 13,100 shares of the company’s stock worth $262,000 after buying an additional 1,480 shares during 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.