Stevanato Group (NYSE:STVN) Stock Price Down 4.7% - Here's Why

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s share price traded down 4.7% on Thursday . The stock traded as low as €23.24 ($26.71) and last traded at €23.61 ($27.14). 196,134 shares traded hands during trading, a decline of 41% from the average session volume of 334,048 shares. The stock had previously closed at €24.77 ($28.47).

Analysts Set New Price Targets

A number of research firms recently commented on STVN. UBS Group decreased their price objective on Stevanato Group from $24.00 to $23.50 and set a "neutral" rating on the stock in a report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Stevanato Group in a report on Friday, March 7th. Finally, Stephens upgraded Stevanato Group to a "strong-buy" rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Stevanato Group currently has a consensus rating of "Moderate Buy" and a consensus target price of €25.70 ($29.54).

Stevanato Group Stock Down 2.5%

The stock has a market capitalization of $7.09 billion, a PE ratio of 49.79, a PEG ratio of 7.18 and a beta of 0.53. The firm's fifty day moving average is €22.44 and its 200-day moving average is €21.61. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 0.22.

Stevanato Group Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 5th will be issued a dividend of $0.0613 per share. This is a boost from Stevanato Group's previous annual dividend of $0.05. This represents a yield of 0.3%. The ex-dividend date of this dividend is Thursday, June 5th. Stevanato Group's dividend payout ratio is currently 11.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STVN. Whittier Trust Co. purchased a new position in Stevanato Group in the first quarter valued at about $27,000. Twin Tree Management LP purchased a new position in Stevanato Group in the first quarter valued at about $29,000. Van Berkom & Associates Inc. purchased a new position in Stevanato Group in the fourth quarter valued at about $39,000. Johnson Financial Group Inc. purchased a new position in Stevanato Group in the fourth quarter valued at about $41,000. Finally, SVB Wealth LLC purchased a new position in Stevanato Group in the first quarter valued at about $46,000.

Stevanato Group Company Profile

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.