Stevanato Group (NYSE:STVN) Issues Earnings Results, Hits Estimates

Stevanato Group (NYSE:STVNGet Rating) posted its earnings results on Tuesday. The company reported €0.11 ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of €0.11 ($0.12), MarketWatch Earnings reports. Stevanato Group had a return on equity of 21.52% and a net margin of 15.93%. The business had revenue of €212.10 million during the quarter, compared to analyst estimates of €212.23 million. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Stevanato Group updated its FY 2022 guidance to $0.55-$0.57 EPS.

Shares of STVN traded down €0.11 ($0.12) during mid-day trading on Tuesday, reaching €13.99 ($14.73). 9,397 shares of the company’s stock traded hands, compared to its average volume of 326,252. The stock’s 50-day moving average is €17.54 and its two-hundred day moving average is €19.62. Stevanato Group has a 12 month low of €13.87 ($14.60) and a 12 month high of €29.18 ($30.72). The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.24.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Stevanato Group by 146.8% in the fourth quarter. BlackRock Inc. now owns 254,239 shares of the company’s stock valued at $5,708,000 after purchasing an additional 151,235 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Stevanato Group by 1,476.5% in the fourth quarter. Wells Fargo & Company MN now owns 35,124 shares of the company’s stock valued at $788,000 after purchasing an additional 32,896 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Stevanato Group by 17.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,091,835 shares of the company’s stock valued at $24,512,000 after purchasing an additional 160,100 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Stevanato Group in the fourth quarter valued at approximately $3,242,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Stevanato Group in the fourth quarter valued at approximately $725,000. Hedge funds and other institutional investors own 90.26% of the company’s stock.

Several equities analysts recently weighed in on STVN shares. Bank of America lowered their target price on Stevanato Group from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Zacks Investment Research downgraded Stevanato Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Citigroup lowered their price objective on Stevanato Group from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Wells Fargo & Company lowered their price objective on Stevanato Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Morgan Stanley lowered their price objective on Stevanato Group from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Stevanato Group currently has a consensus rating of “Buy” and an average price target of €24.44 ($25.72).

About Stevanato Group (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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