Stevanato Group (NYSE:STVN) Shares Up 4.9% Following Analyst Upgrade

Stevanato Group S.p.A. (NYSE:STVN) was up 4.9% during trading on Friday after Bank of America raised their price target on the stock from $24.00 to $26.00. Bank of America currently has a buy rating on the stock. Stevanato Group traded as high as €24.90 ($26.21) and last traded at €23.57 ($24.81). Approximately 371,527 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 499,755 shares. The stock had previously closed at €22.47 ($23.65).

A number of other equities research analysts have also commented on STVN. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 price objective (down from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Wolfe Research initiated coverage on Stevanato Group in a research report on Friday. They set an “outperform” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of €28.60 ($30.11).

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STVN. nVerses Capital LLC acquired a new stake in Stevanato Group in the 3rd quarter valued at $84,000. Raymond James Trust N.A. lifted its holdings in shares of Stevanato Group by 18.7% in the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock valued at $188,000 after purchasing an additional 1,613 shares in the last quarter. Hardy Reed LLC boosted its position in shares of Stevanato Group by 8.2% during the third quarter. Hardy Reed LLC now owns 11,077 shares of the company’s stock valued at $222,000 after buying an additional 840 shares during the last quarter. Lindenwold Advisors INC raised its position in Stevanato Group by 13.5% in the 3rd quarter. Lindenwold Advisors INC now owns 11,930 shares of the company’s stock valued at $239,000 after buying an additional 1,415 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in 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 acquiring an additional 4,441 shares in the last quarter.

Stevanato Group Trading Up 3.7 %

The stock’s fifty day simple moving average is €19.67 and its 200-day simple moving average is €19.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81.

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

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.