ConvaTec Group (LON:CTEC) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

ConvaTec Group PLC (LON:CTEC)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 traded.

Analysts Set New Price Targets

CTEC has been the topic of several recent research reports. Citigroup lowered their price objective on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Stifel Nicolaus restated a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday, March 11th. JPMorgan Chase & Co. lowered their price objective on ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 300 target price on shares of ConvaTec Group in a research note on Monday, June 8th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 340 target price on shares of ConvaTec Group in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 306.

ConvaTec Group Price Performance

The company has a debt-to-equity ratio of 99.96, a current ratio of 1.53 and a quick ratio of 0.96. The company has a market cap of £4.00 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.76. The stock has a 50 day simple moving average of GBX 212.38 and a two-hundred day simple moving average of GBX 225.96.

Insider Buying and Selling

In other ConvaTec Group news, insider Jonny Mason bought 50,000 shares of ConvaTec Group stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of GBX 201 per share, for a total transaction of £100,500. 0.98% of the stock is owned by corporate 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.