UBS Group Reiterates Buy Rating for ConvaTec Group (LON:CTEC)

ConvaTec Group (LON:CTEC)‘s stock had its “buy” rating reaffirmed by investment analysts at UBS Group in a research note issued to investors on Friday, Marketbeat.com reports. They presently have a GBX 375 target price on the stock. UBS Group’s price target would suggest a potential upside of 59.03% from the company’s previous close.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, July 30th. Berenberg Bank lowered their target price on shares of ConvaTec Group from GBX 335 to GBX 330 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Royal Bank Of Canada upgraded ConvaTec Group to an “outperform” rating and lowered their target price for the company from GBX 320 to GBX 315 in a report on Thursday, August 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ConvaTec Group in a research report on Wednesday, July 30th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 280 price target on shares of ConvaTec Group in a report on Tuesday, October 28th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 320.33.

ConvaTec Group Stock Performance

ConvaTec Group stock traded up GBX 2.20 during midday trading on Friday, hitting GBX 235.80. 4,567,398 shares of the company were exchanged, compared to its average volume of 14,153,500. The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26. The firm has a market capitalization of £4.68 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The business has a fifty day simple moving average of GBX 238.26 and a two-hundred day simple moving average of GBX 252.97. ConvaTec Group has a fifty-two week low of GBX 213.40 and a fifty-two week high of GBX 311.20.

Insiders Place Their Bets

In related news, insider Jonny Mason purchased 50,000 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was acquired at an average price of GBX 235 per share, for a total transaction of £117,500. 0.94% of the stock is owned by corporate insiders.

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.