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. The stock had previously closed at GBX 214.20.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CTEC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, April 8th. UBS Group reaffirmed a “buy” rating and set a GBX 375 price objective on shares of ConvaTec Group in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and set a GBX 325 target price on shares of ConvaTec Group in a report on Friday, May 15th. Citigroup reduced their target price on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a report on Monday. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 340 target price on shares of ConvaTec Group in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 310.22.

ConvaTec Group Trading Down 5.8%

The company has a fifty day simple moving average of GBX 222.28 and a two-hundred day simple moving average of GBX 231.14. 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 stock has a market capitalization 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.

Insiders Place Their Bets

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of ConvaTec Group 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. Corporate insiders own 0.95% of the company’s stock.

ConvaTec Group Company Profile

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.