Bank of America Forecasts Strong Price Appreciation for Stevanato Group (NYSE:STVN) Stock

Stevanato Group (NYSE:STVN) had its price target boosted by equities research analysts at Bank of America from $24.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other brokerages also recently commented on STVN. Wolfe Research began coverage on Stevanato Group in a research note on Friday. They set an “outperform” rating and a $28.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $23.00 price objective (down previously from $24.00) on shares of Stevanato Group in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of €28.60 ($30.11).

Stevanato Group Price Performance

Stevanato Group stock opened at €23.31 ($24.54) on Friday. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.89 billion, a P/E ratio of 49.60, a PEG ratio of 9.79 and a beta of 0.59. The business has a 50-day moving average of €19.67 and a 200-day moving average of €19.67. Stevanato Group has a 1 year low of €16.56 ($17.43) and a 1 year high of €34.73 ($36.56).

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Schwartz Investment Counsel Inc. lifted its stake in Stevanato Group by 12.3% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 126,281 shares of the company’s stock valued at $2,316,000 after acquiring an additional 13,800 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Stevanato Group by 18.7% in the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after purchasing an additional 1,613 shares in the last quarter. Liontrust Investment Partners LLP acquired a new position in Stevanato Group during the second quarter worth $6,104,000. Conestoga Capital Advisors LLC grew its position in Stevanato Group by 7.3% in the second quarter. Conestoga Capital Advisors LLC now owns 7,275,823 shares of the company’s stock valued at $133,439,000 after purchasing an additional 496,930 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Stevanato Group by 27.3% in the 2nd quarter. Natixis Advisors LLC now owns 42,674 shares of the company’s stock valued at $783,000 after buying an additional 9,146 shares during the last quarter.

Stevanato Group Company Profile

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.