Stevanato Group (NYSE:STVN) Shares Gap Down to $19.02

Stevanato Group S.p.A. (NYSE:STVNGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at €19.02 ($20.45), but opened at €18.43 ($19.82). Stevanato Group shares last traded at €18.56 ($19.96), with a volume of 2,231 shares traded.

Several analysts have issued reports on STVN shares. Wells Fargo & Company dropped their price target on shares of Stevanato Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Citigroup dropped their price objective on shares of Stevanato Group from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Zacks Investment Research lowered shares of Stevanato Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Bank of America dropped their price objective on shares of Stevanato Group from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Finally, Morgan Stanley dropped their price objective on shares of Stevanato Group from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Stevanato Group currently has a consensus rating of “Buy” and a consensus price target of €24.69 ($26.55).

The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is €17.61 and its 200 day moving average price is €20.46.

Stevanato Group (NYSE:STVNGet Rating) last posted its quarterly earnings data on Tuesday, March 8th. The company reported €0.15 ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of €0.12 ($0.13) by €0.03 ($0.03). The firm had revenue of €232.60 million for the quarter, compared to the consensus estimate of €220.57 million. Stevanato Group had a net margin of 15.93% and a return on equity of 21.52%. Stevanato Group’s quarterly revenue was up 12.5% compared to the same quarter last year. Research analysts expect that Stevanato Group S.p.A. will post 0.53 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG bought a new stake in Stevanato Group in the 3rd quarter valued at about $55,000. Captrust Financial Advisors bought a new stake in Stevanato Group in the 3rd quarter valued at about $56,000. Russell Investments Group Ltd. bought a new stake in Stevanato Group in the 4th quarter valued at about $93,000. Advisor Group Holdings Inc. purchased a new position in Stevanato Group during the 3rd quarter valued at about $176,000. Finally, Parallel Advisors LLC purchased a new position in shares of Stevanato Group during the fourth quarter worth about $186,000. Institutional investors and hedge funds own 12.40% of the company’s stock.

About Stevanato Group (NYSE:STVN)

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for pharma and healthcare. Its principal products include containment solutions, drug delivery systems, medical devices, diagnostic, analytical services, visual inspection machines, assembling and packaging machines, and glass forming machines.

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