Short Interest in Stevanato Group S.p.A. (NYSE:STVN) Declines By 15.1%

Stevanato Group S.p.A. (NYSE:STVNGet Rating) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,410,000 shares, a decline of 15.1% from the April 30th total of 1,660,000 shares. Approximately 4.1% of the company’s shares are short sold. Based on an average daily volume of 352,900 shares, the days-to-cover ratio is currently 4.0 days.

STVN has been the subject of a number of research analyst reports. Bank of America lowered their price target on Stevanato Group from $30.00 to $24.00 and set a “buy” 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. Wells Fargo & Company cut their target price 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. Zacks Investment Research cut Stevanato Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 10th. Finally, Morgan Stanley decreased their target price on Stevanato Group from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stevanato Group currently has a consensus rating of “Buy” and an average price target of €24.44 ($26.28).

A number of hedge funds and other institutional investors have recently made changes to their positions in STVN. UBS Group AG increased its holdings in shares of Stevanato Group by 79.9% in the 1st quarter. UBS Group AG now owns 1,799 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in Stevanato Group by 25.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 8,679 shares of the company’s stock worth $195,000 after purchasing an additional 1,778 shares in the last quarter. TownSquare Capital LLC lifted its position in shares of Stevanato Group by 4.8% during the 1st quarter. TownSquare Capital LLC now owns 42,483 shares of the company’s stock worth $855,000 after buying an additional 1,936 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Stevanato Group in the 3rd quarter valued at $56,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Stevanato Group by 6.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,989 shares of the company’s stock valued at $986,000 after buying an additional 2,851 shares during the last quarter. 90.26% of the stock is owned by institutional investors.

Shares of STVN opened at €16.15 ($17.37) on Wednesday. The stock has a 50-day simple moving average of €17.27 and a 200-day simple moving average of €18.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.01 and a current ratio of 2.48. Stevanato Group has a 1 year low of €13.35 ($14.35) and a 1 year high of €29.18 ($31.38). The stock has a market capitalization of $4.77 billion and a PE ratio of 28.84.

Stevanato Group (NYSE:STVNGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported €0.12 ($0.13) EPS for the quarter, topping the consensus estimate of €0.11 ($0.12) by €0.01 ($0.01). Stevanato Group had a net margin of 14.57% and a return on equity of 16.39%. The company had revenue of €212.10 million during the quarter, compared to analysts’ expectations of €212.23 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Analysts predict that Stevanato Group will post 0.52 EPS for the current year.

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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