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

Shares of ConvaTec Group PLC (LON:CTEC) have been assigned an average rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is GBX 320.33.

CTEC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ConvaTec Group in a report on Wednesday, July 30th. Berenberg Bank dropped their price objective on ConvaTec Group from GBX 335 to GBX 330 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Royal Bank Of Canada upgraded ConvaTec Group to an “outperform” rating and cut their price objective for the stock from GBX 320 to GBX 315 in a research report on Thursday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 315 target price on shares of ConvaTec Group in a research report on Wednesday, July 30th. Finally, UBS Group reiterated a “buy” rating and issued a GBX 375 price target on shares of ConvaTec Group in a report on Friday.

Insider Activity

In related news, insider Jonny Mason purchased 50,000 shares of ConvaTec Group stock in a transaction dated Thursday, August 28th. The stock was bought at an average cost of GBX 235 per share, for a total transaction of £117,500. Insiders own 0.94% of the company’s stock.

ConvaTec Group Stock Performance

Shares of LON CTEC traded up GBX 2.20 during trading hours on Friday, reaching GBX 235.80. The stock had a trading volume of 4,567,398 shares, compared to its average volume of 14,153,500. The firm has a 50-day moving average of GBX 238.26 and a 200-day moving average of GBX 252.97. The firm has a market cap of £4.68 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.93 and a beta of 0.64. ConvaTec Group has a fifty-two week low of GBX 213.40 and a fifty-two week high of GBX 311.20. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 85.32.

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.