Stevanato Group (NYSE:STVN) Shares Down 5.3% – Here’s What Happened

Stevanato Group S.p.A. (NYSE:STVN) shares fell 5.3% during trading on Wednesday . The company traded as low as €18.07 ($19.22) and last traded at €18.30 ($19.47). 94,866 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 319,936 shares. The stock had previously closed at €19.32 ($20.55).

Analysts Set New Price Targets

Several brokerages recently weighed in on STVN. Bank of America upped their price target on Stevanato Group from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price (down from $24.00) on shares of Stevanato Group in a research report on Tuesday, December 3rd. Finally, Wolfe Research started coverage on shares of Stevanato Group in a research report on Friday, December 13th. They set an “outperform” rating and a $28.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of €28.60 ($30.43).

Stevanato Group Price Performance

The firm has a fifty day moving average price of €21.44 and a two-hundred day moving average price of €20.53. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $5.65 billion, a P/E ratio of 39.72, a P/E/G ratio of 7.18 and a beta of 0.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STVN. Van Berkom & Associates Inc. bought a new stake in shares of Stevanato Group during the fourth quarter valued at approximately $39,000. Johnson Financial Group Inc. purchased a new position in shares of Stevanato Group in the fourth quarter worth $41,000. Wells Fargo & Company MN boosted its holdings in shares of Stevanato Group by 680.3% during the 4th quarter. Wells Fargo & Company MN now owns 3,246 shares of the company’s stock valued at $71,000 after acquiring an additional 2,830 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Stevanato Group by 1,457.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,654 shares of the company’s stock valued at $123,000 after buying an additional 5,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Stevanato Group by 202.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,413 shares of the company’s stock worth $162,000 after acquiring an additional 4,965 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.