Citigroup Reaffirms Outperform Rating for ConvaTec Group (LON:CTEC)

ConvaTec Group (LON:CTEC)‘s stock had its “outperform” rating reissued by research analysts at Citigroup in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a GBX 315 price objective on the stock. Citigroup’s price target would suggest a potential upside of 26.10% from the stock’s previous close.

CTEC has been the subject of several other research reports. Berenberg Bank upped their target price on shares of ConvaTec Group from GBX 330 to GBX 340 and gave the company a “buy” rating in a report on Thursday, January 22nd. UBS Group restated a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a research note on Friday, November 7th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ConvaTec Group in a research report on Friday, November 14th. Finally, Peel Hunt reissued an “add” rating and issued a GBX 270 target price on shares of ConvaTec Group in a report on Thursday, November 13th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 319.57.

ConvaTec Group Stock Up 2.7%

CTEC stock traded up GBX 6.60 during trading on Thursday, hitting GBX 249.80. 8,050,717 shares of the company’s stock were exchanged, compared to its average volume of 18,153,898. The business has a 50-day moving average price of GBX 235.62 and a two-hundred day moving average price of GBX 236.53. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The stock has a market capitalization of £4.87 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 0.93 and a beta of 0.73. ConvaTec Group has a 52-week low of GBX 209.40 and a 52-week high of GBX 311.20.

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.