ConvaTec Group (LON:CTEC) Reaches New 12-Month Low – Here’s Why

ConvaTec Group PLC (LON:CTEC)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 201.60 and last traded at GBX 202, with a volume of 9905975 shares. The stock had previously closed at GBX 206.02.

Wall Street Analyst Weigh In

CTEC has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a GBX 325 price target on shares of ConvaTec Group in a report on Friday, April 10th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 340 price objective on shares of ConvaTec Group in a report on Tuesday, April 21st. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 315 target price on shares of ConvaTec Group in a research note on Wednesday, March 11th. Citigroup restated an “outperform” rating and set a GBX 315 price target on shares of ConvaTec Group in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 315 price target on shares of ConvaTec Group in a report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 319.67.

ConvaTec Group Stock Performance

The firm’s 50-day moving average price is GBX 225.38 and its 200 day moving average price is GBX 232.34. The company has a market cap of £4.08 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 106.19, a quick ratio of 0.96 and a current ratio of 1.53.

Insider Activity

In related news, insider Jonny Mason sold 291,149 shares of ConvaTec Group stock in a transaction on Monday, March 16th. The stock was sold at an average price of GBX 234, for a total transaction of £681,288.66. 0.95% of the stock is owned by corporate insiders.

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.