Stevanato Group (NYSE:STVN) Stock Price Down 8.2% – Here’s Why

Shares of Stevanato Group S.p.A. (NYSE:STVN) fell 8.2% during mid-day trading on Friday . The stock traded as low as €17.86 and last traded at €17.59. 449,518 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 494,945 shares. The stock had previously closed at €19.16.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STVN. Weiss Ratings reissued a “hold (c)” rating on shares of Stevanato Group in a report on Monday, December 29th. Morgan Stanley began coverage on Stevanato Group in a research report on Monday, December 1st. They set an “equal weight” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Stevanato Group has an average rating of “Moderate Buy”.

Stevanato Group Stock Down 9.7%

The company’s 50 day moving average price is €21.24 and its two-hundred day moving average price is €23.54. The company has a current ratio of 1.89, a quick ratio of 1.30 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.24 billion, a PE ratio of 30.38, a PEG ratio of 1.60 and a beta of 0.58.

Institutional Trading of Stevanato Group

Several hedge funds have recently bought and sold shares of the stock. Ranger Investment Management L.P. lifted its holdings in Stevanato Group by 125.6% in the 2nd quarter. Ranger Investment Management L.P. now owns 1,321,030 shares of the company’s stock worth $32,273,000 after purchasing an additional 735,417 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Stevanato Group during the second quarter valued at approximately $13,729,000. Champlain Investment Partners LLC lifted its holdings in shares of Stevanato Group by 68.7% in the second quarter. Champlain Investment Partners LLC now owns 1,300,799 shares of the company’s stock worth $31,779,000 after buying an additional 529,950 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Stevanato Group by 20.0% in the second quarter. Artisan Partners Limited Partnership now owns 2,733,782 shares of the company’s stock worth $66,786,000 after buying an additional 455,323 shares in the last quarter. Finally, Cooper Investors PTY Ltd. boosted its position in shares of Stevanato Group by 251.7% during the third quarter. Cooper Investors PTY Ltd. now owns 590,308 shares of the company’s stock worth $15,200,000 after acquiring an additional 422,478 shares during the last quarter.

Stevanato Group Company Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.