Stevanato Group (NYSE:STVN) Stock Price Down 9.2% Following Analyst Downgrade

Stevanato Group S.p.A. (NYSE:STVN)’s share price dropped 9.2% during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $34.00 to $30.00. Morgan Stanley currently has an equal weight rating on the stock. Stevanato Group traded as low as €24.05 ($25.59) and last traded at €25.38 ($27.00). Approximately 68,698 shares changed hands during trading, a decline of 77% from the average daily volume of 302,924 shares. The stock had previously closed at €27.95 ($29.73).

Other equities analysts have also recently issued reports about the stock. KeyCorp boosted their price target on shares of Stevanato Group from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, August 30th. CJS Securities began coverage on shares of Stevanato Group in a report on Tuesday, September 19th. They issued an “outperform” rating and a $36.00 price objective for the company. Stephens began coverage on shares of Stevanato Group in a report on Monday, September 25th. They issued an “overweight” rating and a $33.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Stevanato Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Finally, Jefferies Financial Group cut shares of Stevanato Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $29.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of €32.67 ($34.75).

Institutional Investors Weigh In On Stevanato Group

A number of hedge funds have recently bought and sold shares of STVN. UBS Group AG boosted its holdings in Stevanato Group by 834.5% during the first quarter. UBS Group AG now owns 1,056 shares of the company’s stock valued at $27,000 after acquiring an additional 943 shares during the period. Optimum Investment Advisors bought a new stake in Stevanato Group during the second quarter valued at about $32,000. US Bancorp DE boosted its holdings in Stevanato Group by 170.7% during the first quarter. US Bancorp DE now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 845 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Stevanato Group during the second quarter valued at about $42,000. Finally, Simplex Trading LLC acquired a new position in shares of Stevanato Group during the first quarter valued at about $44,000. 10.90% of the stock is currently owned by institutional investors.

Stevanato Group Price Performance

The stock’s 50-day moving average price is €30.79 and its 200 day moving average price is €30.24. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 44.40, a price-to-earnings-growth ratio of 4.08 and a beta of 0.85. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.11.

About Stevanato Group

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for biopharma and healthcare. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering. 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.