Stevanato Group (NYSE:STVN) Sets New 12-Month Low – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN)’s share price reached a new 52-week low during mid-day trading on Saturday . The stock traded as low as €16.30 and last traded at €17.22, with a volume of 2619700 shares. The stock had previously closed at €19.16.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stevanato Group in a report on Monday, December 29th. Morgan Stanley initiated coverage on shares of Stevanato Group in a research report on Monday, December 1st. They set an “equal weight” rating and a $24.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Stevanato Group from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Stevanato Group Stock Down 10.1%

The company has a quick ratio of 1.30, a current ratio of 1.89 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $5.21 billion, a PE ratio of 30.21, a PEG ratio of 1.42 and a beta of 0.58. The company’s 50 day moving average is €21.14 and its two-hundred day moving average is €23.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its holdings in shares of Stevanato Group by 20.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,733,782 shares of the company’s stock worth $66,786,000 after acquiring an additional 455,323 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Stevanato Group by 7.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,372,390 shares of the company’s stock worth $61,089,000 after purchasing an additional 156,733 shares during the period. Bamco Inc. NY lifted its stake in Stevanato Group by 4.5% in the third quarter. Bamco Inc. NY now owns 1,973,759 shares of the company’s stock worth $50,824,000 after purchasing an additional 85,709 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Stevanato Group by 6.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,392,581 shares of the company’s stock valued at $35,859,000 after buying an additional 86,971 shares during the period. Finally, Ranger Investment Management L.P. boosted its position in shares of Stevanato Group by 125.6% during the second quarter. Ranger Investment Management L.P. now owns 1,321,030 shares of the company’s stock valued at $32,273,000 after buying an additional 735,417 shares during the period.

About Stevanato Group

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.