ConvaTec Group (LON:CTEC) Receives "Buy" Rating from Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reaffirmed its “Buy” rating on ConvaTec Group and set a GBX 315 price target, implying 39.13% potential upside from the current price.
• Analyst sentiment remains positive, with eight Buy ratings and one Hold rating; the consensus is “Moderate Buy” with an average target price of GBX 306.
• ConvaTec shares fell 1.3% to GBX 226.40, while insider Jonny Mason purchased 50,000 shares worth £100,500.

ConvaTec Group (LON:CTEC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Deutsche Bank Aktiengesellschaft in a report issued on Wednesday,Digital Look reports. They presently have a GBX 315 price target on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 39.13% from the company's current price.

CTEC has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of ConvaTec Group from GBX 307 to GBX 294 and set an "overweight" rating for the company in a research note on Friday, May 22nd. UBS Group reissued a "buy" rating and set a GBX 375 price objective on shares of ConvaTec Group in a research report on Monday, May 18th. Berenberg Bank reissued a "buy" rating and set a GBX 340 price objective on shares of ConvaTec Group in a research note on Tuesday, April 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 300 price objective on shares of ConvaTec Group in a research report on Wednesday. Finally, Peel Hunt reiterated an "add" rating and set a GBX 270 price objective on shares of ConvaTec Group in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, ConvaTec Group has a consensus rating of "Moderate Buy" and an average target price of GBX 306.

ConvaTec Group Stock Down 1.3%

Shares of LON CTEC traded down GBX 3 during trading on Wednesday, hitting GBX 226.40. The stock had a trading volume of 1,839,836,250 shares, compared to its average volume of 53,635,801. The firm has a fifty day moving average of GBX 211.76 and a two-hundred day moving average of GBX 221.09. 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 company has a market capitalization of £4.42 billion, a PE ratio of 26.33, a PEG ratio of 0.93 and a beta of 0.77.

Insiders Place Their Bets

In related news, insider Jonny Mason purchased 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of GBX 201 per share, for a total transaction of £100,500. Corporate insiders own 0.98% of the company's stock.

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.

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