Stevanato Group (NYSE:STVN) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

Stevanato Group (NYSE:STVN – Get Rating) had its price objective lowered by stock analysts at Wells Fargo & Company from $21.00 to $19.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley dropped their target price on shares of Stevanato Group from $30.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, March 9th. Citigroup dropped their target price on shares of Stevanato Group from $27.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Bank of America lowered their price objective on shares of Stevanato Group from $30.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Finally, Zacks Investment Research lowered shares of Stevanato Group from a “buy” rating to a “hold” rating in a report on Thursday, March 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of €24.44 ($26.28).

NYSE STVN traded down €0.97 ($1.04) during trading on Monday, hitting €16.61 ($17.86). 4,439 shares of the company’s stock traded hands, compared to its average volume of 331,165. The stock has a fifty day moving average of €17.62 and a two-hundred day moving average of €20.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.12 and a current ratio of 2.56. Stevanato Group has a 12-month low of €14.38 ($15.46) and a 12-month high of €29.18 ($31.38).

Stevanato Group (NYSE:STVN – Get Rating) last posted its earnings results on Tuesday, March 8th. The company reported €0.15 ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of €0.12 ($0.13) by €0.03 ($0.03). The company had revenue of €232.60 million during the quarter, compared to analyst estimates of €220.57 million. Stevanato Group had a net margin of 15.93% and a return on equity of 21.52%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Stevanato Group will post 0.53 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in STVN. Norges Bank bought a new position in shares of Stevanato Group during the fourth quarter valued at approximately $42,342,000. Morgan Stanley bought a new stake in shares of Stevanato Group during the third quarter valued at approximately $32,099,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Stevanato Group during the third quarter valued at approximately $25,468,000. Goldman Sachs Group Inc. bought a new stake in shares of Stevanato Group during the third quarter valued at approximately $23,582,000. Finally, Wellington Management Group LLP bought a new stake in shares of Stevanato Group during the third quarter valued at approximately $20,624,000. 12.40% of the stock is owned by institutional investors and hedge funds.

Stevanato Group Company Profile (Get Rating)

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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