ConvaTec Group (LON:CTEC – Free Report) had its price objective lowered by Berenberg Bank from GBX 340 to GBX 335 in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.
Several other equities research analysts also recently weighed in on CTEC. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 300 price objective on shares of ConvaTec Group in a report on Wednesday, August 5th. Peel Hunt restated an “add” rating and set a GBX 270 price target on shares of ConvaTec Group in a research report on Tuesday, August 4th. Citigroup reduced their price target on shares of ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating for the company in a research note on Monday, May 18th. UBS Group reiterated a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lowered their target price on ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 305.44.
Check Out Our Latest Analysis on CTEC
ConvaTec Group Trading Down 0.7%
Insider Activity at ConvaTec Group
In related news, insider Tobias Hestler acquired 50,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of GBX 226 per share, with a total value of £113,000. 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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