ConvaTec Group PLC (LON:CTEC) Given Consensus Rating of “Buy” by Brokerages

ConvaTec Group PLC (LON:CTEC) has earned an average rating of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is GBX 320.33.

CTEC has been the topic of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ConvaTec Group in a research report on Wednesday, July 30th. Berenberg Bank dropped their target price on shares of 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 raised shares of ConvaTec Group to an “outperform” rating and lowered their price objective for the company from GBX 320 to GBX 315 in a research report on Thursday, August 21st. UBS Group reiterated a “buy” rating and set a GBX 375 price objective on shares of ConvaTec Group in a research note on Friday. Finally, Peel Hunt restated a “buy” rating and issued a GBX 280 target price on shares of ConvaTec Group in a research note on Tuesday, October 28th.

Insider Activity at ConvaTec Group

In other ConvaTec Group news, insider Jonny Mason bought 50,000 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were purchased at an average price of GBX 235 per share, with a total value of £117,500. Insiders own 0.94% of the company’s stock.

ConvaTec Group Trading Up 0.9%

Shares of CTEC stock traded up GBX 2.20 on Friday, reaching GBX 235.80. 4,567,398 shares of the stock were exchanged, compared to its average volume of 14,153,500. The firm has a 50 day moving average of GBX 238.26 and a two-hundred day moving average of GBX 252.97. The stock has a market cap of £4.68 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. ConvaTec Group has a 1-year low of GBX 213.40 and a 1-year high of GBX 311.20. The company has a quick ratio of 0.96, a current ratio of 2.26 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.