Stevanato Group (NYSE:STVN) Trading 1.7% Higher – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN)’s share price traded up 1.7% during trading on Thursday . The company traded as high as €18.74 ($19.73) and last traded at €18.58 ($19.56). 34,981 shares traded hands during trading, a decline of 93% from the average session volume of 511,321 shares. The stock had previously closed at €18.27 ($19.23).

Analyst Ratings Changes

Separately, Citigroup cut their target price on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Stevanato Group Price Performance

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 business has a 50 day simple moving average of €19.42 and a 200-day simple moving average of €19.81.

Stevanato Group (NYSE:STVN) last posted its quarterly 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 business had revenue of €277.90 million for the quarter, compared to analysts’ expectations of €274.36 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Stevanato Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank boosted its stake in shares of Stevanato Group by 34.3% during the 2nd quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock worth $81,000 after acquiring an additional 1,122 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Stevanato Group during the 3rd quarter valued at $84,000. Harbor Capital Advisors Inc. lifted its stake in shares of Stevanato Group by 109.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,867 shares of the company’s stock valued at $163,000 after buying an additional 4,626 shares in the last quarter. Raymond James Trust N.A. lifted its stake 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 valued at $188,000 after buying an additional 1,613 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Stevanato Group by 59.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock valued at $219,000 after buying an additional 4,441 shares in the last quarter.

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.