Stevanato Group (NYSE:STVN) Stock Price Up 7.6% - Here's Why

Key Points

• Stevanato Group's stock price increased by 7.6%, reaching as high as €25.88 ($30.09) during trading, with a significant volume of 612,271 shares exchanged, highlighting strong investor interest.
• Analysts maintain a "Moderate Buy" consensus rating with one Strong Buy, three Buy, and two Hold ratings, indicating positive sentiment toward the stock's performance.
• Recent institutional investments included significant new positions by firms such as Whittier Trust Co. and Twin Tree Management, with the State of Wyoming increasing its holdings by over 39,000%.

Stevanato Group S.p.A. (NYSE:STVN - Get Free Report)'s stock price traded up 7.6% on Wednesday . The stock traded as high as €25.88 ($30.45) and last traded at €24.38 ($28.68). 612,271 shares changed hands during trading, an increase of 81% from the average session volume of 338,086 shares. The stock had previously closed at €22.65 ($26.65).

Analysts Set New Price Targets

Separately, William Blair restated an "outperform" rating on shares of Stevanato Group in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Stevanato Group Stock Performance

The firm's 50-day moving average is €24.09 and its 200 day moving average is €22.69. The stock has a market cap of $7.73 billion, a PE ratio of 47.28, a P/E/G ratio of 2.28 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.22 and a current ratio of 1.79.

Hedge Funds Weigh In On Stevanato Group

Several institutional investors have recently bought and sold shares of STVN. Invesco Ltd. acquired a new position in Stevanato Group in the 1st quarter valued at $19,072,000. Champlain Investment Partners LLC acquired a new position in Stevanato Group in the 1st quarter valued at $15,741,000. Ranger Investment Management L.P. grew its stake in shares of Stevanato Group by 125.6% during the 2nd quarter. Ranger Investment Management L.P. now owns 1,321,030 shares of the company's stock worth $32,273,000 after purchasing an additional 735,417 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Stevanato Group during the 1st quarter worth $12,944,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Stevanato Group during the 2nd quarter worth $13,729,000.

About Stevanato Group

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.