Stevanato Group (NYSE:STVN) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Stevanato Group (NYSE:STVN) issued its quarterly earnings results on Tuesday. 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)), Briefing.com reports. Stevanato Group had a net margin of 11.27% and a return on equity of 10.89%. 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 firm earned $0.16 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Stevanato Group updated its FY 2024 guidance to 0.517-0.539 EPS and its FY24 guidance to €0.47-0.49 EPS.

Stevanato Group Price Performance

Shares of STVN traded up €0.17 ($0.19) on Thursday, hitting €22.72 ($24.97). The company’s stock had a trading volume of 383,800 shares, compared to its average volume of 510,737. The company has a quick ratio of 1.13, a current ratio of 1.74 and a debt-to-equity ratio of 0.19. Stevanato Group has a fifty-two week low of €16.56 ($18.20) and a fifty-two week high of €34.73 ($38.16). The company has a 50 day moving average price of €19.66 and a 200 day moving average price of €20.31.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STVN shares. Citigroup lowered their price objective on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on Stevanato Group from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th.

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.