ConvaTec Group (LON:CTEC) Trading Up 9.3% – Should You Buy?

ConvaTec Group PLC (LON:CTEC) shares were up 9.3% during mid-day trading on Tuesday . The stock traded as high as GBX 252.53 and last traded at GBX 248.20. Approximately 45,008,020 shares changed hands during trading, an increase of 123% from the average daily volume of 20,158,922 shares. The stock had previously closed at GBX 227.

Analysts Set New Price Targets

Several research firms have weighed in on CTEC. Berenberg Bank lifted their target price on ConvaTec Group from GBX 330 to GBX 340 and gave the company a “buy” rating in a research report on Thursday, January 22nd. JPMorgan Chase & Co. restated an “overweight” rating on shares of ConvaTec Group in a report on Friday, November 14th. UBS Group reaffirmed a “buy” rating and set a GBX 375 target price on shares of ConvaTec Group in a research note on Friday, November 7th. Finally, Peel Hunt reissued an “add” rating and issued a GBX 270 price target on shares of ConvaTec Group in a research report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, ConvaTec Group presently has an average rating of “Buy” and a consensus price target of GBX 320.33.

ConvaTec Group Stock Up 9.9%

The company has a debt-to-equity ratio of 85.32, a current ratio of 2.26 and a quick ratio of 0.96. The company has a market cap of £4.86 billion, a PE ratio of 23.53, a P/E/G ratio of 0.93 and a beta of 0.64. The business’s 50 day moving average is GBX 234.35 and its 200-day moving average is GBX 235.57.

About ConvaTec Group

ConvaTec Group PLC engages in the development, manufacturing, and sale of medical products, services, and technologies in Europe, North America, and internationally. The company offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, and acute conditions resulting from traumatic injury and burns. It also provides ostomy care solutions, including devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, and bladder cancer.