ConvaTec Group (LON:CTEC) Stock Price Up 9.3% – What’s Next?

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

Wall Street Analyst Weigh In

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

ConvaTec Group Price Performance

The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26. The stock’s 50-day moving average is GBX 234.35 and its two-hundred day moving average is GBX 235.57. The stock has a market cap of £4.86 billion, a PE ratio of 23.53, a PEG ratio of 0.93 and a beta of 0.64.

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.