Stevanato Group (NYSE:STVN) Sees Large Volume Increase – Here’s Why

Stevanato Group S.p.A. (NYSE:STVN) shares saw unusually-strong trading volume on Friday . Approximately 180,800 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 236,763 shares.The stock last traded at €20.46 and had previously closed at €20.51.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STVN. Morgan Stanley initiated coverage on Stevanato Group in a research note on Monday, December 1st. They set an “equal weight” rating and a $24.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Stevanato Group in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Stevanato Group Price Performance

The stock has a market cap of $6.25 billion, a P/E ratio of 36.09, a PEG ratio of 1.99 and a beta of 0.58. The company has a 50 day simple moving average of €22.52 and a 200 day simple moving average of €23.94. The company has a current ratio of 1.89, a quick ratio of 1.30 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Stevanato Group

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in Stevanato Group in the third quarter valued at about $44,000. First Horizon Corp bought a new position in Stevanato Group in the 3rd quarter valued at approximately $50,000. State of Wyoming boosted its position in Stevanato Group by 39,216.7% during the 2nd quarter. State of Wyoming now owns 2,359 shares of the company’s stock worth $58,000 after buying an additional 2,353 shares during the period. Quantbot Technologies LP bought a new stake in Stevanato Group during the 3rd quarter worth approximately $68,000. Finally, Van Berkom & Associates Inc. increased its position in Stevanato Group by 50.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,615 shares of the company’s stock valued at $93,000 after acquiring an additional 1,215 shares during the period.

Stevanato Group Company Profile

Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.

In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.