ConvaTec Group (LON:CTEC) Sets New 1-Year Low - Time to Sell?

Key Points

• Shares hit a new 52-week low, trading as low as GBX 208.60 and last at GBX 211 on heavy volume (7,088,742 shares).
• Analysts remain bullish—nine firms give a consensus Buy rating with an average target of GBX 319.67, implying roughly a 50% upside from the current price.
• Insider Jonny Mason sold 291,149 shares at GBX 234 on March 16 for about £681k, and insiders now own only 0.95% of the company, which may warrant caution.

Shares of ConvaTec Group PLC (LON:CTEC - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as GBX 208.60 and last traded at GBX 211, with a volume of 7088742 shares. The stock had previously closed at GBX 211.20.

Analysts Set New Price Targets

CTEC has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a GBX 325 price objective on shares of ConvaTec Group in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, April 8th. Berenberg Bank reiterated a "buy" rating and set a GBX 340 price objective on shares of ConvaTec Group in a report on Tuesday, April 21st. Citigroup reiterated an "outperform" rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Thursday, March 5th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 315 price target on shares of ConvaTec Group in a research report on Wednesday, March 11th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 319.67.

ConvaTec Group Trading Down 0.1%

The business's 50-day moving average is GBX 231.31 and its two-hundred day moving average is GBX 234.39. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The stock has a market capitalization of £4.12 billion, a PE ratio of 24.53, a PEG ratio of 0.93 and a beta of 0.84.

Insiders Place Their Bets

In related news, insider Jonny Mason sold 291,149 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of GBX 234, for a total transaction of £681,288.66. Company insiders own 0.95% of the company's stock.

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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