Stevanato Group (NYSE:STVN) Trading 1.9% Higher – Still a Buy?

Stevanato Group S.p.A. (NYSE:STVN) shares rose 1.9% during mid-day trading on Tuesday . The stock traded as high as €21.18 ($22.29) and last traded at €20.96 ($22.06). Approximately 45,875 shares traded hands during trading, a decline of 91% from the average daily volume of 500,857 shares. The stock had previously closed at €20.56 ($21.64).

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reiterated an “equal weight” rating and set a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd.

Stevanato Group Price Performance

The company has a fifty day simple moving average of €19.47 and a 200-day simple moving average of €19.60. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last released its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The firm had revenue of €277.90 million during the quarter, compared to analysts’ expectations of €274.36 million. During the same period in the prior year, the company posted $0.16 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Stevanato Group S.p.A. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Stevanato Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Tri Locum Partners LP bought a new position in shares of Stevanato Group during the 2nd quarter valued at approximately $10,370,000. Thrivent Financial for Lutherans bought a new stake in shares of Stevanato Group in the 2nd quarter valued at about $30,477,000. Thornburg Investment Management Inc. boosted its position in shares of Stevanato Group by 279.1% in the 2nd quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after purchasing an additional 549,378 shares in the last quarter. Glenmede Trust Co. NA increased its position in Stevanato Group by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock valued at $719,000 after buying an additional 4,050 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in Stevanato Group by 56.8% in the second quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company’s stock valued at $7,228,000 after buying an additional 142,754 shares during 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.