Stevanato Group (NYSE:STVN) Trading Up 6.8% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) shares rose 6.8% during mid-day trading on Friday . The stock traded as high as €20.38 ($21.45) and last traded at €20.37 ($21.44). Approximately 339,137 shares traded hands during trading, a decline of 1% from the average daily volume of 341,494 shares. The stock had previously closed at €19.07 ($20.07).

Analyst Upgrades and Downgrades

STVN has been the topic of several analyst reports. Wolfe Research started coverage on Stevanato Group in a report on Friday, December 13th. They set an “outperform” rating and a $28.00 target price on the stock. Morgan Stanley reissued 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. Finally, Bank of America boosted their price target on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of €28.60 ($30.11).

Stevanato Group Trading Up 2.2 %

The business has a 50-day simple moving average of €21.93 and a two-hundred day simple moving average of €20.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.81 and a quick ratio of 1.21. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 41.47, a P/E/G ratio of 7.89 and a beta of 0.56.

Hedge Funds Weigh In On Stevanato Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Stevanato Group by 4.5% in the third quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Stevanato Group in the fourth quarter valued at approximately $20,239,000. Glenmede Trust Co. NA boosted its stake in shares of Stevanato Group by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock valued at $719,000 after buying an additional 4,050 shares during the period. AMI Asset Management Corp bought a new stake in shares of Stevanato Group in the fourth quarter valued at approximately $1,089,000. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Stevanato Group by 5.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 8,082,996 shares of the company’s stock valued at $176,128,000 after buying an additional 407,086 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.