Stevanato Group (NYSE:STVN) Given Equal Weight Rating at Morgan Stanley

Stevanato Group (NYSE:STVN)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $23.00 price target on the stock, down from their previous price target of $24.00.

Separately, Citigroup dropped their price target on Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Stevanato Group Stock Performance

NYSE:STVN opened at €20.11 ($21.17) on Tuesday. 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 has a 12-month low of €16.56 ($17.43) and a 12-month high of €34.73 ($36.56). The stock has a 50-day moving average price of €19.50 and a 200 day moving average price of €19.59.

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 business had revenue of €277.90 million for the quarter, compared to analysts’ expectations of €274.36 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Stevanato Group will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STVN. Tri Locum Partners LP bought a new stake in shares of Stevanato Group in 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 approximately $30,477,000. Thornburg Investment Management Inc. lifted its stake 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 valued at $13,690,000 after purchasing an additional 549,378 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Stevanato Group by 56.8% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company’s stock valued at $7,228,000 after purchasing an additional 142,754 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Stevanato Group by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 35,941 shares of the company’s stock valued at $719,000 after purchasing an additional 4,050 shares during the last quarter.

Stevanato Group Company Profile

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.