Stevanato Group (NYSE:STVN) Issues Quarterly Earnings Results

Stevanato Group (NYSE:STVN – Get Rating) released its quarterly earnings data on Tuesday. The company reported €0.11 ($0.12) EPS for the quarter, meeting the consensus estimate of €0.11 ($0.12), MarketWatch Earnings reports. Stevanato Group had a return on equity of 21.52% and a net margin of 15.93%. The company had revenue of €212.10 million for the quarter, compared to analyst estimates of €212.23 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Stevanato Group updated its FY 2022 guidance to $0.55-$0.57 EPS.

NYSE:STVN traded up €0.03 ($0.03) during mid-day trading on Tuesday, reaching €14.13 ($14.87). The stock had a trading volume of 9,882 shares, compared to its average volume of 326,252. Stevanato Group has a 1-year low of €13.87 ($14.60) and a 1-year high of €29.18 ($30.72). The stock’s 50 day simple moving average is €17.54 and its two-hundred day simple moving average is €19.62. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.24.

Several research analysts have commented on the company. Morgan Stanley cut their price objective on Stevanato Group from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Wells Fargo & Company cut their price objective 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. Citigroup cut their price objective on Stevanato Group from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Zacks Investment Research lowered Stevanato Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Finally, Bank of America dropped their target price on Stevanato Group from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Stevanato Group presently has a consensus rating of “Buy” and a consensus target price of €24.44 ($25.72).

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in Stevanato Group by 17.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,091,835 shares of the company’s stock worth $24,512,000 after purchasing an additional 160,100 shares in the last quarter. Millennium Management LLC grew its stake in Stevanato Group by 86.6% in the fourth quarter. Millennium Management LLC now owns 784,549 shares of the company’s stock worth $17,613,000 after purchasing an additional 364,115 shares in the last quarter. BlackRock Inc. grew its stake in Stevanato Group by 146.8% in the fourth quarter. BlackRock Inc. now owns 254,239 shares of the company’s stock worth $5,708,000 after purchasing an additional 151,235 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Stevanato Group in the fourth quarter worth about $3,242,000. Finally, Alliancebernstein L.P. acquired a new position in Stevanato Group in the fourth quarter worth about $1,740,000. Institutional investors and hedge funds own 90.26% of the company’s stock.

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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