ConvaTec Group Plc (LON:CTEC) Receives GBX 247 Consensus PT from Analysts

ConvaTec Group Plc (LON:CTECGet Rating) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is GBX 253 ($3.10).

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of ConvaTec Group to a “sector perform” rating and boosted their price objective for the company from GBX 195 ($2.39) to GBX 210 ($2.57) in a research report on Wednesday, May 18th. JPMorgan Chase & Co. lifted their target price on shares of ConvaTec Group from GBX 255 ($3.12) to GBX 275 ($3.37) and gave the company an “overweight” rating in a research note on Friday. Barclays lifted their target price on shares of ConvaTec Group from GBX 285 ($3.49) to GBX 295 ($3.61) and gave the company an “overweight” rating in a research note on Friday. Finally, Berenberg Bank restated a “buy” rating and set a GBX 250 ($3.06) target price on shares of ConvaTec Group in a research note on Wednesday, May 18th.

ConvaTec Group Trading Down 2.1 %

Shares of CTEC stock opened at GBX 240.60 ($2.95) on Wednesday. ConvaTec Group has a 1 year low of GBX 165.30 ($2.03) and a 1 year high of GBX 256 ($3.14). The firm has a fifty day moving average price of GBX 219.78 and a 200-day moving average price of GBX 205.61. The company has a debt-to-equity ratio of 84.85, a current ratio of 1.95 and a quick ratio of 1.34. The company has a market cap of £4.91 billion and a price-to-earnings ratio of 4,812.00.

ConvaTec Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, October 6th. Stockholders of record on Thursday, August 25th will be issued a GBX 1.41 ($0.02) dividend. The ex-dividend date is Thursday, August 25th. This represents a dividend yield of 0.61%. ConvaTec Group’s dividend payout ratio (DPR) is presently 112.03%.

Insider Activity at ConvaTec Group

In other news, insider Jonny Mason purchased 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were bought at an average cost of GBX 224 ($2.74) per share, for a total transaction of £49,280 ($60,384.76).

ConvaTec Group Company Profile

(Get Rating)

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as from traumatic injury, burns, invasive surgery, and other causes.

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Analyst Recommendations for ConvaTec Group (LON:CTEC)

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