Stevanato Group (NYSE:STVN) Trading Down 0.4% – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) shares traded down 0.4% on Wednesday . The stock traded as low as €17.98 ($18.93) and last traded at €18.07 ($19.02). 68,949 shares were traded during mid-day trading, a decline of 87% from the average session volume of 511,718 shares. The stock had previously closed at €18.15 ($19.11).

Analysts Set New Price Targets

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

Stevanato Group Stock 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 firm’s 50 day moving average is €19.43 and its two-hundred day moving average is €19.81.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share 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 company had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. During the same period in the previous year, the firm posted $0.16 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts expect that Stevanato Group S.p.A. will post 0.5 EPS for the current fiscal year.

Institutional Trading of Stevanato Group

A number of hedge funds and other institutional investors have recently made changes to their positions in STVN. Thrivent Financial for Lutherans acquired a new position in Stevanato Group during the second quarter worth $30,477,000. Pembroke Management LTD increased its holdings in Stevanato Group by 143.7% during the third quarter. Pembroke Management LTD now owns 1,051,140 shares of the company’s stock worth $21,023,000 after buying an additional 619,747 shares during the last quarter. Tri Locum Partners LP bought a new position in Stevanato Group during the second quarter worth $10,370,000. Thornburg Investment Management Inc. boosted its position in Stevanato Group by 279.1% during the second quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after purchasing an additional 549,378 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in Stevanato Group by 7.3% during the second quarter. Conestoga Capital Advisors LLC now owns 7,275,823 shares of the company’s stock worth $133,439,000 after purchasing an additional 496,930 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.