ConvaTec Group (LON:CTEC) Receives “Buy” Rating from Berenberg Bank

ConvaTec Group (LON:CTEC)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a report issued on Tuesday,Digital Look reports. They presently have a GBX 340 price objective on the stock. Berenberg Bank’s target price suggests a potential upside of 45.05% from the company’s previous close.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 315 target price on shares of ConvaTec Group in a research report on Wednesday, April 8th. Citigroup reaffirmed an “outperform” rating and issued a GBX 315 target price on shares of ConvaTec Group in a research report on Thursday, March 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 315 target price on shares of ConvaTec Group in a research report on Wednesday, March 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 325 target price on shares of ConvaTec Group in a research report on Friday, April 10th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 319.67.

ConvaTec Group Trading Down 1.0%

Shares of ConvaTec Group stock traded down GBX 2.40 during trading hours on Tuesday, reaching GBX 234.40. 4,837,936 shares of the company’s stock were exchanged, compared to its average volume of 32,726,775. ConvaTec Group has a 52-week low of GBX 209.40 and a 52-week high of GBX 311.20. The firm has a market capitalization of £4.58 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 0.93 and a beta of 0.84. The company has a fifty day moving average of GBX 231.74 and a 200-day moving average of GBX 235.15. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19.

Insider Buying and Selling

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. 0.95% of the stock is owned by company insiders.

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.