ConvaTec Group (LON:CTEC) Receives Add Rating from Peel Hunt

Key Points

• Peel Hunt reissued an “Add” rating on ConvaTec Group with a GBX 270 price target, implying 17.19% upside from the previous close.
• Analyst sentiment remains favorable, with eight Buy ratings and one Hold rating; the consensus is “Moderate Buy” with an average target of GBX 306.
• ConvaTec shares opened at GBX 230.40 and were up 2.2%; the company has a £4.50 billion market capitalization and a 12-month trading range of GBX 193 to GBX 259.30.

ConvaTec Group (LON:CTEC - Get Free Report)'s stock had its "add" rating reissued by investment analysts at Peel Hunt in a report released on Tuesday,Digital Look reports. They presently have a GBX 270 target price on the stock. Peel Hunt's price target suggests a potential upside of 17.19% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, April 8th. UBS Group restated a "buy" rating and issued a GBX 375 target price on shares of ConvaTec Group in a research note on Monday, May 18th. Citigroup lowered their price target on shares of ConvaTec Group from GBX 250 to GBX 230 and set a "neutral" rating for the company in a report on Monday, May 18th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 300 price target on shares of ConvaTec Group in a research note on Monday, June 8th. Finally, Berenberg Bank reissued a "buy" rating and issued a GBX 340 price objective on shares of ConvaTec Group in a research report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, ConvaTec Group has a consensus rating of "Moderate Buy" and an average price target of GBX 306.

ConvaTec Group Trading Up 2.2%

LON:CTEC opened at GBX 230.40 on Tuesday. The company has a debt-to-equity ratio of 99.96, a current ratio of 1.53 and a quick ratio of 0.96. ConvaTec Group has a 12 month low of GBX 193 and a 12 month high of GBX 259.30. The firm has a market capitalization of £4.50 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. The business's 50-day moving average is GBX 211.20 and its two-hundred day moving average is GBX 221.13.

Insider Transactions at ConvaTec Group

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

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