Stevanato Group S.p.A. (NYSE:STVN) Sees Large Drop in Short Interest

Stevanato Group S.p.A. (NYSE:STVN) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,660,000 shares, a decrease of 18.5% from the October 31st total of 4,490,000 shares. Based on an average daily trading volume, of 545,200 shares, the short-interest ratio is presently 6.7 days. Currently, 7.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Stevanato Group

A number of large investors have recently made changes to their positions in STVN. Hilltop National Bank grew its position in Stevanato Group by 34.3% during the second quarter. Hilltop National Bank now owns 4,395 shares of the company’s stock worth $81,000 after buying an additional 1,122 shares in the last quarter. nVerses Capital LLC acquired a new stake in Stevanato Group during the third quarter worth approximately $84,000. Harbor Capital Advisors Inc. grew its position in Stevanato Group by 109.1% during the second quarter. Harbor Capital Advisors Inc. now owns 8,867 shares of the company’s stock worth $163,000 after buying an additional 4,626 shares in the last quarter. Raymond James Trust N.A. grew its position in Stevanato Group by 18.7% during the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock worth $188,000 after buying an additional 1,613 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Stevanato Group by 59.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,941 shares of the company’s stock worth $219,000 after buying an additional 4,441 shares in the last quarter.

Analyst Ratings Changes

Separately, Citigroup dropped their price objective on Stevanato Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Stevanato Group Stock Performance

NYSE:STVN traded up €0.03 ($0.03) on Friday, hitting €20.03 ($21.08). The company’s stock had a trading volume of 144,700 shares, compared to its average volume of 508,631. The firm has a market capitalization of $5.92 billion, a P/E ratio of 42.62, a price-to-earnings-growth ratio of 9.00 and a beta of 0.58. The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. Stevanato Group has a one year low of €16.56 ($17.43) and a one year high of €34.73 ($36.56). The stock has a fifty day moving average of €19.48 and a two-hundred day moving average of €19.64.

Stevanato Group (NYSE:STVN) last announced its earnings results on Tuesday, November 5th. The company reported €0.12 ($0.13) earnings per share 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 the consensus estimate of €274.36 million. Stevanato Group had a return on equity of 9.86% and a net margin of 10.47%. Stevanato Group’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Research analysts predict that Stevanato Group will post 0.5 earnings per share for the current year.

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.