Stevanato Group (NYSE:STVN) Price Target Raised to $26.00

Stevanato Group (NYSE:STVN) had its target price upped by Bank of America from $24.00 to $26.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

STVN has been the subject of several other research reports. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price target (down previously from $24.00) on shares of Stevanato Group in a research note on Tuesday, December 3rd. Wolfe Research initiated coverage on Stevanato Group in a report on Friday. They issued an “outperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of €28.60 ($30.11).

Stevanato Group Trading Up 3.7 %

STVN opened at €23.31 ($24.54) on Friday. Stevanato Group has a 1 year low of €16.56 ($17.43) and a 1 year high of €34.73 ($36.56). The stock has a 50-day moving average price of €19.67 and a 200-day moving average price of €19.68. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

Stevanato Group (NYSE:STVN) last issued its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of €0.13 ($0.14) by (€0.01) (($0.01)). The firm had revenue of €277.90 million during the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. On average, equities research analysts anticipate that Stevanato Group will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Stevanato Group

Several hedge funds and other institutional investors have recently modified their holdings of STVN. Conestoga Capital Advisors LLC increased its position in Stevanato Group by 5.5% during the third quarter. Conestoga Capital Advisors LLC now owns 7,675,910 shares of the company’s stock valued at $153,518,000 after acquiring an additional 400,087 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Stevanato Group by 67.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,784,912 shares of the company’s stock valued at $55,698,000 after purchasing an additional 1,123,104 shares during the period. Wellington Management Group LLP increased its position in shares of Stevanato Group by 4.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,693,588 shares of the company’s stock valued at $53,872,000 after purchasing an additional 115,050 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of Stevanato Group by 1.3% in the 3rd quarter. Bamco Inc. NY now owns 1,685,181 shares of the company’s stock worth $33,704,000 after purchasing an additional 21,469 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Stevanato Group by 24.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,070,557 shares of the company’s stock worth $21,411,000 after purchasing an additional 208,830 shares during the period.

About Stevanato Group

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for bio-pharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific. The company operates in two segments, Biopharmaceutical and Diagnostic Solutions; and Engineering.