ConvaTec Group (OTCMKTS:CNVVY) Raised to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of ConvaTec Group (OTCMKTS:CNVVY – Get Rating) from an underperform rating to a sector perform rating in a research report report published on Wednesday, The Fly reports.

A number of other research firms have also issued reports on CNVVY. Barclays boosted their target price on shares of ConvaTec Group from GBX 290 ($3.57) to GBX 295 ($3.64) in a research note on Tuesday, March 1st. Berenberg Bank assumed coverage on shares of ConvaTec Group in a research report on Thursday, March 17th. They set a buy rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of ConvaTec Group from GBX 278 ($3.43) to GBX 256 ($3.16) and set an overweight rating on the stock in a research report on Friday, January 21st. Finally, Credit Suisse Group dropped their price target on shares of ConvaTec Group from GBX 210 ($2.59) to GBX 195 ($2.40) in a research report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $250.33.

ConvaTec Group stock opened at $11.06 on Wednesday. The firm has a 50-day moving average price of $10.94 and a two-hundred day moving average price of $10.46. ConvaTec Group has a 52-week low of $9.06 and a 52-week high of $14.71.

The company also recently announced a dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, April 1st will be given a $0.1325 dividend. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, March 31st.

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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