Stevanato Group (NYSE:STVN) Shares Gap Down – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) gapped down before the market opened on Thursday . The stock had previously closed at €22.08 ($25.09), but opened at €21.40 ($24.32). Stevanato Group shares last traded at €20.98 ($23.84), with a volume of 56,070 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STVN shares. UBS Group lowered their price objective on Stevanato Group from $24.00 to $23.50 and set a “neutral” rating for the company in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Stevanato Group in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of €25.70 ($29.20).

Stevanato Group Price Performance

The stock’s 50 day simple moving average is €20.51 and its 200 day simple moving average is €20.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.81. The firm has a market capitalization of $6.44 billion, a P/E ratio of 45.26, a P/E/G ratio of 7.18 and a beta of 0.52.

Stevanato Group (NYSE:STVN) last issued its earnings results on Thursday, March 6th. The company reported €0.20 ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of €0.20 ($0.23). The business had revenue of €352.68 million during the quarter, compared to analyst estimates of €346.26 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. As a group, analysts expect that Stevanato Group S.p.A. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

Several institutional investors have recently bought and sold shares of STVN. Conestoga Capital Advisors LLC boosted its position in Stevanato Group by 5.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 8,082,996 shares of the company’s stock valued at $176,128,000 after acquiring an additional 407,086 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Stevanato Group by 114.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 3,288,529 shares of the company’s stock valued at $71,657,000 after purchasing an additional 1,756,100 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Stevanato Group by 28.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,355,799 shares of the company’s stock worth $51,333,000 after purchasing an additional 524,989 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Stevanato Group by 7.9% during the fourth quarter. Bamco Inc. NY now owns 1,818,181 shares of the company’s stock valued at $39,618,000 after buying an additional 133,000 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Stevanato Group by 56.3% in the 4th quarter. Teacher Retirement System of Texas now owns 1,250,000 shares of the company’s stock valued at $27,238,000 after buying an additional 450,000 shares in the last quarter.

About Stevanato Group

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.