ConvaTec Group PLC (LON:CTEC – Get Free Report)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 212.38 and traded as low as GBX 204.40. ConvaTec Group shares last traded at GBX 205.20, with a volume of 13,165,548 shares changing hands.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 300 price objective on shares of ConvaTec Group in a research report on Monday, June 8th. Berenberg Bank reiterated a “buy” rating and issued a GBX 340 price target on shares of ConvaTec Group in a report on Tuesday, April 21st. Finally, UBS Group reiterated a “buy” rating and issued a GBX 375 price target on shares of ConvaTec Group in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 306.
Check Out Our Latest Research Report on ConvaTec Group
ConvaTec Group Trading Down 0.2%
Insider Buying and Selling
In related news, insider Jonny Mason acquired 50,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of GBX 201 per share, for a total transaction of £100,500. 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.
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