TD Cowen Upgrades Stevanato Group (NYSE:STVN) to “Strong-Buy”

Stevanato Group (NYSE:STVN) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on STVN. Morgan Stanley cut their target price on shares of Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Stevanato Group in a report on Monday, June 8th. Wolfe Research began coverage on Stevanato Group in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $21.00 price target on the stock. Citigroup reduced their price objective on Stevanato Group from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, KeyCorp lowered their target price on Stevanato Group from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Stevanato Group Price Performance

NYSE STVN opened at €17.63 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. Stevanato Group has a 1 year low of €12.89 and a 1 year high of €28.00. The company has a market cap of $5.34 billion, a PE ratio of 29.88, a PEG ratio of 1.57 and a beta of 0.78. The stock’s 50-day moving average price is €17.06 and its two-hundred day moving average price is €17.44.

Stevanato Group (NYSE:STVN) last announced its earnings results on Friday, May 8th. The company reported €0.11 EPS for the quarter, missing the consensus estimate of €0.12 by (€0.01). Stevanato Group had a return on equity of 10.27% and a net margin of 11.76%.The firm had revenue of €273.57 million during the quarter. During the same period last year, the firm posted $0.10 EPS. Stevanato Group’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts predict that Stevanato Group will post 0.68 EPS for the current year.

Institutional Investors Weigh In On Stevanato Group

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

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.