Stevanato Group (NYSE:STVN) Shares Gap Up – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) gapped up prior to trading on Monday . The stock had previously closed at €22.38, but opened at €23.39. Stevanato Group shares last traded at €23.35, with a volume of 58,673 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on STVN shares. Morgan Stanley raised their target price on Stevanato Group from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stevanato Group in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Stevanato Group has a consensus rating of “Moderate Buy”.

Stevanato Group Trading Up 5.4%

The business has a 50 day simple moving average of €24.90 and a 200-day simple moving average of €24.31. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 2.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.89 and a quick ratio of 1.30.

Institutional Investors Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its holdings in Stevanato Group by 13.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,744,714 shares of the company’s stock worth $76,468,000 after purchasing an additional 439,722 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Stevanato Group by 20.0% during the second quarter. Artisan Partners Limited Partnership now owns 2,733,782 shares of the company’s stock worth $66,786,000 after buying an additional 455,323 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Stevanato Group by 7.1% during the third quarter. Thrivent Financial for Lutherans now owns 2,372,390 shares of the company’s stock worth $61,089,000 after buying an additional 156,733 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Stevanato Group by 4.5% during the third quarter. Bamco Inc. NY now owns 1,973,759 shares of the company’s stock worth $50,824,000 after buying an additional 85,709 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Stevanato Group by 6.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,392,581 shares of the company’s stock valued at $35,859,000 after buying an additional 86,971 shares during the last quarter.

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.