Stevanato Group (NYSE:STVN) Shares Gap Down to $17.51

Stevanato Group S.p.A. (NYSE:STVNGet Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at €17.51 ($17.87), but opened at €17.05 ($17.40). Stevanato Group shares last traded at €17.28 ($17.63), with a volume of 448 shares.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price objective on shares of Stevanato Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, August 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of €24.90 ($25.41).

Stevanato Group Stock Down 1.1 %

The business’s 50 day simple moving average is €17.06 and its 200-day simple moving average is €16.74. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.64 and a current ratio of 2.11.

Stevanato Group (NYSE:STVNGet Rating) last issued its earnings results on Thursday, August 4th. The company reported €0.12 ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of €0.12 ($0.12). The company had revenue of €234.20 million during the quarter, compared to analyst estimates of €228.53 million. Stevanato Group had a net margin of 13.64% and a return on equity of 13.99%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Sell-side analysts expect that Stevanato Group S.p.A. will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Stevanato Group

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its stake in shares of Stevanato Group by 3.4% in the 1st quarter. Lazard Asset Management LLC now owns 6,366,679 shares of the company’s stock valued at $128,097,000 after purchasing an additional 210,007 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of Stevanato Group by 21.5% in the 1st quarter. WCM Investment Management LLC now owns 2,654,303 shares of the company’s stock valued at $53,405,000 after purchasing an additional 469,613 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new stake in shares of Stevanato Group in the 2nd quarter valued at $28,192,000. Clearbridge Investments LLC lifted its stake in shares of Stevanato Group by 0.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,397,533 shares of the company’s stock valued at $22,095,000 after purchasing an additional 12,217 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Stevanato Group by 8.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,264,708 shares of the company’s stock valued at $19,995,000 after purchasing an additional 101,955 shares during the last quarter. Institutional investors and hedge funds own 10.26% of the company’s stock.

Stevanato Group Company Profile

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Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for pharma and healthcare. Its principal products include containment solutions, drug delivery systems, medical devices, diagnostic, analytical services, visual inspection machines, assembling and packaging machines, and glass forming machines.

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