ConvaTec Group PLC (LON:CTEC) Given Average Recommendation of “Moderate Buy” by Brokerages

ConvaTec Group PLC (LON:CTEC) has been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is GBX 306.

CTEC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 315 price target on shares of ConvaTec Group in a report on Wednesday, August 5th. Berenberg Bank restated a “buy” rating and issued a GBX 340 price objective on shares of ConvaTec Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Citigroup cut their target price on shares of ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating for the company in a research note on Monday, May 18th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 300 price objective on shares of ConvaTec Group in a report on Wednesday, August 5th.

ConvaTec Group Price Performance

Shares of LON:CTEC opened at GBX 232.40 on Friday. The business has a 50 day moving average price of GBX 216.29 and a 200 day moving average price of GBX 221.02. ConvaTec Group has a twelve month low of GBX 193 and a twelve month high of GBX 259.30. The company has a market cap of £4.54 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 0.93 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.93 and a debt-to-equity ratio of 121.83.

Insider Activity at ConvaTec Group

In other news, insider Jonny Mason purchased 50,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of GBX 201 per share, with a total value of £100,500. Also, insider Tobias Hestler acquired 50,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of GBX 226 per share, for a total transaction of £113,000. Corporate insiders own 0.98% 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.