Short Interest in Stevanato Group S.p.A. (NYSE:STVN) Decreases By 55.5%

Stevanato Group S.p.A. (NYSE:STVNGet Rating) saw a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 627,000 shares, a decline of 55.5% from the May 15th total of 1,410,000 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 338,600 shares, the short-interest ratio is presently 1.9 days.

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Stevanato Group in the fourth quarter valued at approximately $42,342,000. Morgan Stanley purchased a new stake in Stevanato Group in the third quarter valued at approximately $32,099,000. Wellington Management Group LLP purchased a new stake in Stevanato Group in the third quarter valued at approximately $20,624,000. Citadel Advisors LLC purchased a new stake in Stevanato Group in the third quarter valued at approximately $14,050,000. Finally, WCM Investment Management LLC raised its position in Stevanato Group by 21.5% in the first quarter. WCM Investment Management LLC now owns 2,654,303 shares of the company’s stock valued at $53,405,000 after purchasing an additional 469,613 shares during the period. 90.26% of the stock is currently owned by hedge funds and other institutional investors.

STVN stock opened at €14.84 ($15.96) on Friday. The firm has a market cap of $4.39 billion and a PE ratio of 26.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.01 and a current ratio of 2.48. The firm’s 50 day moving average price is €16.78 and its 200-day moving average price is €18.28. Stevanato Group has a one year low of €13.35 ($14.35) and a one year high of €29.18 ($31.38).

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

The company also recently declared a — dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Tuesday, June 14th will be given a dividend of $0.051 per share. This represents a dividend yield of 0.4%. The ex-dividend date is Monday, June 13th.

Several equities research analysts recently issued reports on STVN shares. Bank of America lowered their price objective on Stevanato Group from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Citigroup decreased their target price on shares of Stevanato Group from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. Wells Fargo & Company decreased their target price on shares of Stevanato Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Finally, Morgan Stanley decreased their target price on shares of Stevanato Group from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of €25.21 ($27.11).

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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