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Strength Seen in Stevanato (STVN): Can Its 5.0% Jump Turn into More Strength?
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Stevanato Group (STVN - Free Report) shares ended the last trading session 5% higher at $32.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.6% gain over the past four weeks.
The sudden surge in the stock price can be attributed to the positive momentum built around the company's innovative portfolio of medical devices and diagnostic equipments. Stevanato's core drug containment business has been the main growth driver for the company. Additionally, the company has been entering into collaboration agreements to develop and bring its innovative drug delivery systems to the market, which is encouraging.
This maker of glass vials for COVID-19 vaccines is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of +7.7%. Revenues are expected to be $275.39 million, up 10.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Stevanato, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STVN going forward to see if this recent jump can turn into more strength down the road.
Stevanato is part of the Zacks Medical - Drugs industry. Neurocrine Biosciences (NBIX - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $97.60. NBIX has returned 2.1% in the past month.
For Neurocrine, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.72. This represents a change of +500% from what the company reported a year ago. Neurocrine currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Stevanato (STVN): Can Its 5.0% Jump Turn into More Strength?
Stevanato Group (STVN - Free Report) shares ended the last trading session 5% higher at $32.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.6% gain over the past four weeks.
The sudden surge in the stock price can be attributed to the positive momentum built around the company's innovative portfolio of medical devices and diagnostic equipments. Stevanato's core drug containment business has been the main growth driver for the company. Additionally, the company has been entering into collaboration agreements to develop and bring its innovative drug delivery systems to the market, which is encouraging.
This maker of glass vials for COVID-19 vaccines is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of +7.7%. Revenues are expected to be $275.39 million, up 10.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Stevanato, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STVN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Stevanato is part of the Zacks Medical - Drugs industry. Neurocrine Biosciences (NBIX - Free Report) , another stock in the same industry, closed the last trading session 0.8% higher at $97.60. NBIX has returned 2.1% in the past month.
For Neurocrine, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.72. This represents a change of +500% from what the company reported a year ago. Neurocrine currently has a Zacks Rank of #3 (Hold).