ConvaTec Group Plc (LON:CTEC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ConvaTec Group Plc (LON:CTECGet Rating) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is GBX 259 ($3.13).

A number of research firms have weighed in on CTEC. JPMorgan Chase & Co. boosted their price objective on shares of ConvaTec Group from GBX 255 ($3.08) to GBX 275 ($3.32) and gave the company an “overweight” rating in a research report on Friday, August 5th. Barclays boosted their price objective on shares of ConvaTec Group from GBX 285 ($3.44) to GBX 295 ($3.56) and gave the company an “overweight” rating in a research report on Friday, August 5th. Berenberg Bank boosted their price objective on shares of ConvaTec Group from GBX 250 ($3.02) to GBX 280 ($3.38) and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 210 ($2.54) price objective on shares of ConvaTec Group in a research report on Thursday, August 11th.

Insider Transactions at ConvaTec Group

In related news, insider Sten Scheibye purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were purchased at an average cost of GBX 237 ($2.86) per share, for a total transaction of £47,400 ($57,274.05).

ConvaTec Group Price Performance

ConvaTec Group stock opened at GBX 217.60 ($2.63) on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 90.81. ConvaTec Group has a 52-week low of GBX 165.30 ($2.00) and a 52-week high of GBX 256 ($3.09). The company has a market cap of £4.44 billion and a price-to-earnings ratio of 7,246.67. The firm’s fifty day moving average is GBX 226.79 and its 200 day moving average is GBX 217.31.

ConvaTec Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 6th. Stockholders of record on Thursday, August 25th will be issued a GBX 1.41 ($0.02) dividend. This represents a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, August 25th. ConvaTec Group’s payout ratio is presently 194.77%.

ConvaTec Group Company Profile

(Get Rating)

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as from traumatic injury, burns, invasive surgery, and other causes.

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Analyst Recommendations for ConvaTec Group (LON:CTEC)

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