ConvaTec Group (LON:CTEC) Price Target Lowered to GBX 330 at Berenberg Bank

Key Points

• Berenberg Bank has reduced its price target for ConvaTec Group stock from GBX 335 to GBX 330, maintaining a "buy" rating.
• Other analysts, including Deutsche Bank and JPMorgan, have also reiterated their positive ratings, reflecting a consensus target price of around GBX 308.
• ConvaTec Group's stock price recently opened at GBX 245.20, marking a significant increase of 6.1%.

ConvaTec Group (LON:CTEC - Get Free Report) had its price objective lowered by stock analysts at Berenberg Bank from GBX 335 to GBX 330 in a report issued on Tuesday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's target price would suggest a potential upside of 36.27% from the company's current price.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. reissued an "overweight" rating on shares of ConvaTec Group in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, July 30th. Finally, Peel Hunt reissued an "add" rating and set a GBX 280 price objective on shares of ConvaTec Group in a report on Tuesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of GBX 309.40.

ConvaTec Group Stock Down 0.3%

ConvaTec Group stock traded down GBX 0.64 during midday trading on Tuesday, reaching GBX 242.16. The stock had a trading volume of 21,112,898 shares, compared to its average volume of 13,706,213. ConvaTec Group has a 12 month low of GBX 211.80 and a 12 month high of GBX 311.20. The company has a market capitalization of £6.16 billion, a P/E ratio of 40.78, a PEG ratio of 0.93 and a beta of 0.64. The company has a fifty day moving average price of GBX 252.61 and a two-hundred day moving average price of GBX 258.21. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 85.32.

Insider Activity

In other ConvaTec Group news, insider Karim Bitar sold 1,250,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of GBX 227, for a total transaction of £2,837,500. 19.65% of the stock is currently 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.