Short Interest in Stevanato Group S.p.A. (NYSE:STVN) Decreases By 18.5%

Stevanato Group S.p.A. (NYSE:STVN) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 3,660,000 shares, a decline of 18.5% from the October 31st total of 4,490,000 shares. Based on an average daily trading volume, of 545,200 shares, the days-to-cover ratio is presently 6.7 days. Currently, 7.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Stevanato Group

Hedge funds have recently bought and sold shares of the company. Tri Locum Partners LP bought a new position in Stevanato Group during the 2nd quarter worth approximately $10,370,000. Thrivent Financial for Lutherans bought a new position in Stevanato Group during the second quarter worth $30,477,000. Thornburg Investment Management Inc. boosted its holdings in Stevanato Group by 279.1% in the second quarter. Thornburg Investment Management Inc. now owns 746,218 shares of the company’s stock worth $13,690,000 after purchasing an additional 549,378 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in Stevanato Group by 56.8% in the second quarter. Comgest Global Investors S.A.S. now owns 394,120 shares of the company’s stock worth $7,228,000 after purchasing an additional 142,754 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Stevanato Group by 18.7% during the second quarter. Raymond James Trust N.A. now owns 10,239 shares of the company’s stock valued at $188,000 after purchasing an additional 1,613 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their target price on Stevanato Group from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Stevanato Group Price Performance

Stevanato Group stock opened at €20.03 ($21.08) on Monday. Stevanato Group has a 52 week low of €16.56 ($17.43) and a 52 week high of €34.73 ($36.56). The company has a current ratio of 1.81, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of €19.49 and a 200-day moving average of €19.61.

Stevanato Group (NYSE:STVN) last posted its quarterly earnings data on Tuesday, November 5th. The company reported €0.12 ($0.13) EPS for the quarter, missing analysts’ consensus estimates of €0.13 ($0.14) by (€0.01) (($0.01)). The company had revenue of €277.90 million for the quarter, compared to the consensus estimate of €274.36 million. Stevanato Group had a net margin of 10.47% and a return on equity of 9.86%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Equities analysts expect that Stevanato Group will post 0.5 earnings per share for the current year.

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.