Shares of ConvaTec Group PLC (LON:CTEC - Get Free Report) shot up 6.9% during mid-day trading on Thursday after Royal Bank Of Canada upgraded the stock to an outperform rating. Royal Bank Of Canada now has a GBX 315 price target on the stock, down from their previous price target of GBX 320. ConvaTec Group traded as high as GBX 249.69 ($3.37) and last traded at GBX 247.12 ($3.33). 13,084,437 shares traded hands during trading, a decline of 4% from the average session volume of 13,697,891 shares. The stock had previously closed at GBX 231.20 ($3.12).
A number of other research firms also recently weighed in on CTEC. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, July 30th. Peel Hunt restated an "add" rating and issued a GBX 280 price objective on shares of ConvaTec Group in a report on Tuesday, July 29th. JPMorgan Chase & Co. restated an "overweight" rating on shares of ConvaTec Group in a report on Wednesday, July 30th. Finally, Berenberg Bank decreased their price objective on ConvaTec Group from GBX 335 to GBX 330 and set a "buy" rating for the company in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of GBX 309.40.
View Our Latest Analysis on ConvaTec Group
Insiders Place Their Bets
In other ConvaTec Group news, insider Karim Bitar sold 1,250,000 shares of ConvaTec Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of GBX 227, for a total value of £2,837,500. Insiders own 19.65% of the company's stock.
ConvaTec Group Trading Down 3.8%
The company has a quick ratio of 0.96, a current ratio of 2.26 and a debt-to-equity ratio of 85.32. The firm's 50-day moving average price is GBX 250.64 and its 200 day moving average price is GBX 258.07. The company has a market capitalization of £5.93 billion, a P/E ratio of 39.24, a P/E/G ratio of 0.93 and a beta of 0.64.
About ConvaTec Group
(
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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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