ConvaTec Group (LON:CTEC) Reaches New 1-Year High - Still a Buy?

ConvaTec Group PLC (LON:CTEC - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as GBX 276.20 ($3.70) and last traded at GBX 275.14 ($3.68), with a volume of 11939867 shares traded. The stock had previously closed at GBX 275.80 ($3.69).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 310 ($4.15) price objective on shares of ConvaTec Group in a research report on Wednesday, March 5th.

ConvaTec Group Stock Up 0.1%

The company's fifty day simple moving average is GBX 256.12 and its 200 day simple moving average is GBX 243.88. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 85.32. The firm has a market capitalization of £7.00 billion, a P/E ratio of 46.35, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64.

ConvaTec Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, April 17th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 1.36%. This is a boost from ConvaTec Group's previous dividend of $0.02. ConvaTec Group's payout ratio is currently 84.20%.

Insider Buying and Selling

In related news, insider Karim Bitar sold 436,692 shares of ConvaTec Group stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of GBX 256 ($3.43), for a total transaction of £1,117,931.52 ($1,497,162.88). 19.65% of the stock is owned by insiders.

ConvaTec Group Company Profile

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.

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