Wolfe Research Initiates Coverage on Stevanato Group (NYSE:STVN)

Wolfe Research initiated coverage on shares of Stevanato Group (NYSE:STVN) in a research report released on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $28.00 price objective on the stock.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of €28.60 ($30.11).

Stevanato Group Stock Performance

Shares of STVN opened at €23.31 ($24.54) on Friday. Stevanato Group has a twelve month low of €16.56 ($17.43) and a twelve month high of €34.73 ($36.56). 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 firm has a 50 day moving average of €19.67 and a 200 day moving average of €19.67.

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 analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The business had revenue of €277.90 million during 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%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Analysts predict that Stevanato Group will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Stevanato Group

A number of hedge funds have recently modified their holdings of the business. Tri Locum Partners LP bought a new position in shares of Stevanato Group during the 2nd quarter valued at approximately $10,370,000. Thrivent Financial for Lutherans bought a new position in shares of Stevanato Group in the second quarter worth approximately $30,477,000. Wellington Management Group LLP raised its position in shares of Stevanato Group by 4.5% during the 3rd 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 period. Thornburg Investment Management Inc. lifted its stake in shares of Stevanato Group by 279.1% during the 2nd quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock valued at $13,690,000 after buying an additional 549,378 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Stevanato Group by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock worth $719,000 after buying an additional 4,050 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.