Stevanato Group (NYSE:STVN) Issues Quarterly Earnings Results, Hits Expectations

Stevanato Group (NYSE:STVN – Get Rating) released its quarterly earnings results on Thursday. The company reported €0.12 ($0.12) earnings per share for the quarter, hitting the consensus estimate of €0.12 ($0.12), Briefing.com reports. The business had revenue of €234.20 million during the quarter, compared to analysts’ expectations of €228.53 million. Stevanato Group had a return on equity of 16.39% and a net margin of 14.57%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. Stevanato Group updated its FY22 guidance to 0.51-0.53 EPS and its FY 2022 guidance to $0.54-$0.56 EPS.

Stevanato Group Price Performance

STVN stock traded up €0.86 ($0.89) during midday trading on Friday, reaching €18.27 ($18.84). 150,700 shares of the stock were exchanged, compared to its average volume of 327,105. The stock has a market capitalization of $5.40 billion and a PE ratio of 32.63. Stevanato Group has a 52 week low of €13.35 ($13.76) and a 52 week high of €29.18 ($30.08). The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 2.01. The company has a fifty day moving average price of €15.82 and a 200 day moving average price of €16.67.

Stevanato Group Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Wednesday, July 13th. Investors of record on Tuesday, June 14th were given a dividend of $0.051 per share. The ex-dividend date was Monday, June 13th. This represents a yield of 0.4%.

Institutional Investors Weigh In On Stevanato Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in shares of Stevanato Group by 3.4% in the 1st quarter. Lazard Asset Management LLC now owns 6,366,679 shares of the company’s stock valued at $128,097,000 after buying an additional 210,007 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Stevanato Group by 21.2% in the 1st quarter. Wellington Management Group LLP now owns 992,326 shares of the company’s stock valued at $19,966,000 after purchasing an additional 173,332 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Stevanato Group by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,162,753 shares of the company’s stock valued at $23,395,000 after purchasing an additional 70,918 shares during the period. Brinker Capital Investments LLC lifted its stake in shares of Stevanato Group by 38.3% in the 1st quarter. Brinker Capital Investments LLC now owns 176,426 shares of the company’s stock valued at $3,550,000 after purchasing an additional 48,899 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in shares of Stevanato Group in the 1st quarter valued at about $301,000. Institutional investors own 90.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price target on Stevanato Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of €25.21 ($25.99).

About Stevanato Group

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Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for pharma and healthcare. Its principal products include containment solutions, drug delivery systems, medical devices, diagnostic, analytical services, visual inspection machines, assembling and packaging machines, and glass forming machines.