Stevanato Group S.p.A. (NYSE:STVN – Get Free Report)’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
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.
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