Stevanato Group (NYSE:STVN) Shares Gap Down on Disappointing Earnings

Key Points

• Stevanato Group shares fell sharply after the company reported disappointing quarterly results, opening at €15.94 versus a prior close of €19.74 and last trading at €15.09. The stock was down 25.8%.
• The company reported quarterly EPS of €0.16, missing the €0.17 consensus estimate, while revenue totaled €326.10 million. Stevanato posted a 10.99% net margin and 10.43% return on equity.
• Analyst sentiment remains cautiously positive, with a consensus rating of “Moderate Buy” based on two Strong Buy, two Buy and four Hold ratings. Recent insider sales totaled 21,926 shares worth about $459,738, primarily to cover tax obligations tied to equity awards.

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. 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.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group started coverage on Stevanato Group in a research report on Wednesday, September 9th. They set a "neutral" rating and a $23.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Stevanato Group in a research report on Wednesday, October 7th. They issued a "hold" rating for the company. Finally, Weiss Ratings upgraded shares of Stevanato Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Insider Buying and Selling

In related news, Director Elisabetta Magistretti sold 2,045 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of €20.09, for a total value of €41,084.05. Following the completion of the sale, the director directly owned 2,930 shares in the company, valued at approximately €58,863.70. The trade was a 41.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Luciano Santel sold 2,023 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of €20.09, for a total value of €40,642.07. Following the sale, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 21,926 shares of company stock valued at $459,738. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Stevanato Group

A number of institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in Stevanato Group in the third quarter valued at about $75,000. Schwartz Investment Counsel Inc. grew its stake in Stevanato Group by 15.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 661,136 shares of the company's stock worth $13,871,000 after buying an additional 86,385 shares in the last quarter. PineStone Asset Management Inc. grew its stake in Stevanato Group by 8.4% during the third quarter. PineStone Asset Management Inc. now owns 41,335 shares of the company's stock worth $867,000 after buying an additional 3,200 shares in the last quarter. Fenimore Asset Management Inc acquired a new stake in Stevanato Group during the third quarter worth about $12,212,000. Finally, Integrated Wealth Concepts LLC bought a new position in Stevanato Group in the 2nd quarter valued at about $59,000.

Stevanato Group Trading Down 25.8%

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

About Stevanato Group

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.

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