Stevanato Group (NYSE:STVN) Shares Gap Down Following Weak Earnings

Stevanato Group S.p.A. (NYSE:STVN)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at €19.74, but opened at €15.94. Stevanato Group shares last traded at €15.09, with a volume of 896,831 shares changing hands.

The company reported €0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of €0.17 by (€0.01). Stevanato Group had a net margin of 10.99% and a return on equity of 10.43%. The firm had revenue of €326.10 million during the quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on STVN. Weiss Ratings upgraded Stevanato Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. UBS Group initiated coverage on Stevanato Group in a report on Wednesday, September 9th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Stevanato Group in a research report on Wednesday, October 7th. They set a “hold” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stevanato Group presently has an average rating of “Moderate Buy”.

Insider Activity at Stevanato Group

In related news, Director Luciano Santel sold 2,023 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €40,642.07. Following the completion of the transaction, the director directly owned 4,739 shares in the company, valued at €95,206.51. This represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elisabetta Magistretti sold 2,045 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of €20.09, for a total transaction of €41,084.05. Following the completion of the transaction, the director directly owned 2,930 shares of the company’s stock, valued at approximately €58,863.70. The trade was a 41.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 21,926 shares of company stock valued at $459,738. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Stevanato Group during the 2nd quarter valued at $59,000. State of Wyoming bought a new stake in Stevanato Group during the 3rd quarter worth $75,000. Fifth Third Bancorp grew its position in Stevanato Group by 22.6% during the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock worth $58,000 after acquiring an additional 773 shares during the last quarter. Hardy Reed LLC acquired a new position in Stevanato Group in the 1st quarter worth about $147,000. Finally, Diversify Wealth Management LLC increased its holdings in Stevanato Group by 23.9% in the 1st quarter. Diversify Wealth Management LLC now owns 18,353 shares of the company’s stock worth $252,000 after purchasing an additional 3,543 shares in the last quarter.

Stevanato Group Stock Down 25.8%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market capitalization of $4.44 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.60 and a beta of 0.78. The firm has a 50-day simple moving average of €20.52 and a 200 day simple moving average of €18.14.

Stevanato Group Company Profile

Stevanato Group S.p.A. is an Italy-based provider of drug-containment and drug-delivery solutions for the pharmaceutical, biotechnology and healthcare industries. Founded in 1949, the company has developed from a glass-packaging manufacturer into an integrated supplier serving customers throughout the global pharmaceutical supply chain.

The company manufactures primary packaging products, including glass vials, syringes, cartridges and ampoules, as well as components and systems used to contain and administer injectable medicines.