ConvaTec Group (LON:CTEC) Sets New 52-Week Low – Here’s Why

ConvaTec Group PLC (LON:CTEC)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as GBX 197.40 and last traded at GBX 202.60, with a volume of 20963307 shares changing hands. The stock had previously closed at GBX 214.20.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTEC shares. Stifel Nicolaus restated a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a report on Wednesday, March 11th. UBS Group restated a “buy” rating and issued a GBX 375 price target on shares of ConvaTec Group in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a report on Wednesday, April 8th. Berenberg Bank restated a “buy” rating and issued a GBX 340 price target on shares of ConvaTec Group in a report on Tuesday, April 21st. Finally, Citigroup cut their price target on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 310.22.

ConvaTec Group Stock Down 5.8%

The firm has a market cap of £3.94 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 106.19. The firm has a fifty day moving average of GBX 222.28 and a 200-day moving average of GBX 231.14.

Insider Transactions at ConvaTec Group

In related news, insider Jonny Mason sold 291,149 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of GBX 234, for a total transaction of £681,288.66. Insiders own 0.95% of the company’s stock.

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.