ConvaTec Group (LON:CTEC) Trading Down 1.7% - Should You Sell?

Key Points

• ConvaTec Group PLC's shares fell 1.7%, trading at GBX 238 ($3.18), with a significant increase in trading volume of 480% compared to the average daily volume.
• Analysts have mixed target price ratings for ConvaTec Group, with JPMorgan giving it an "overweight" rating and a target of GBX 280, while others like Berenberg Bank revised their target down slightly to GBX 330.
• Insider transaction activity includes the sale of 1,250,000 shares by insider Karim Bitar and a purchase of 50,000 shares by Jonny Mason, indicating varied confidence among executives about the stock's future.

ConvaTec Group PLC (LON:CTEC - Get Free Report) shares were down 1.7% during trading on Friday . The company traded as low as GBX 238 ($3.18) and last traded at GBX 238 ($3.18). Approximately 86,531,234 shares were traded during mid-day trading, an increase of 480% from the average daily volume of 14,914,374 shares. The stock had previously closed at GBX 242 ($3.23).

Analysts Set New Price Targets

A number of research analysts have recently commented on CTEC shares. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of ConvaTec Group in a research note on Wednesday, July 30th. Peel Hunt reiterated an "add" rating and issued a GBX 280 price target on shares of ConvaTec Group in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 315 price target on shares of ConvaTec Group in a research note on Wednesday, July 30th. Berenberg Bank dropped their price target on ConvaTec Group from GBX 335 to GBX 330 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada raised ConvaTec Group to an "outperform" rating and lowered their target price for the stock from GBX 320 to GBX 315 in a research report on Thursday, August 21st. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, ConvaTec Group has an average rating of "Buy" and a consensus price target of GBX 309.40.

ConvaTec Group Stock Performance

The company has a 50-day moving average price of GBX 234.42 and a two-hundred day moving average price of GBX 253.86. 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 stock has a market capitalization of £4.78 billion, a P/E ratio of 2,245.28, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64.

Insider Activity

In other news, insider Karim Bitar sold 1,250,000 shares of ConvaTec Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of GBX 227, for a total value of £2,837,500. Also, insider Jonny Mason acquired 50,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was acquired at an average cost of GBX 235 per share, with a total value of £117,500. Company insiders own 0.91% 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.

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