Stevanato Group (NYSE:STVN) Shares Gap Up – What’s Next?

Stevanato Group S.p.A. (NYSE:STVN)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at €17.36, but opened at €18.05. Stevanato Group shares last traded at €18.39, with a volume of 7,580 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STVN. TD Cowen upgraded Stevanato Group to a “strong-buy” rating in a research note on Wednesday, June 17th. Morgan Stanley reduced their price target on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, March 6th. KeyCorp decreased their price objective on shares of Stevanato Group from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Citigroup lowered their price objective on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, Wolfe Research initiated coverage on shares of Stevanato Group in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $21.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Stevanato Group Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.63. The company has a market cap of $5.44 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.60 and a beta of 0.78. The firm has a 50 day moving average price of €17.56 and a two-hundred day moving average price of €17.19.

Stevanato Group (NYSE:STVN) last announced its quarterly earnings data on Friday, May 8th. The company reported €0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.12 by (€0.01). The firm had revenue of €273.57 million during the quarter. Stevanato Group had a net margin of 11.76% and a return on equity of 10.27%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, analysts predict that Stevanato Group S.p.A. will post 0.68 EPS for the current fiscal year.

Stevanato Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, June 11th will be given a $0.054 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a dividend yield of 31.0%.

Insider Buying and Selling at Stevanato Group

In related news, Director Karen Flynn sold 1,493 shares of Stevanato Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of €17.09, for a total value of €25,515.37. Following the completion of the transaction, the director directly owned 5,757 shares in the company, valued at approximately €98,387.13. The trade was a 20.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Madhavan Balachandran sold 1,493 shares of Stevanato Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of €17.09, for a total transaction of €25,515.37. Following the completion of the transaction, the director owned 69,458 shares of the company’s stock, valued at €1,187,037.22. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 5,972 shares of company stock valued at $102,061.

Hedge Funds Weigh In On Stevanato Group

Several hedge funds have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its stake in shares of Stevanato Group by 7.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 8,491,751 shares of the company’s stock valued at $116,762,000 after purchasing an additional 602,050 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Stevanato Group in the 4th quarter worth about $9,269,000. Norges Bank purchased a new position in Stevanato Group during the 4th quarter valued at about $8,185,000. Credit Agricole S A purchased a new position in Stevanato Group during the 3rd quarter valued at about $9,785,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Stevanato Group by 10.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,923,632 shares of the company’s stock valued at $78,944,000 after buying an additional 368,792 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.