ConvaTec Group PLC (LON:CTEC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• ConvaTec Group has a “Moderate Buy” consensus rating: Eight of nine analysts recommend buying the stock, while one rates it a hold. The average 12-month price target is GBX 306, above the reported opening price of GBX 232.40.
• Analyst targets vary widely, from Citigroup’s GBX 230 neutral valuation to UBS Group’s GBX 375 buy target, with other firms maintaining positive ratings and targets between GBX 300 and GBX 340.
• Insiders recently bought shares: Jonny Mason and Tobias Hestler purchased a combined 100,000 shares for approximately £213,500, while insiders collectively own 0.98% of the company.

Shares of ConvaTec Group PLC (LON:CTEC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is GBX 306.

A number of analysts have weighed in on CTEC shares. Berenberg Bank reaffirmed a "buy" rating and set a GBX 340 target price on shares of ConvaTec Group in a research note on Tuesday, April 21st. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Monday, August 3rd. UBS Group restated a "buy" rating and set a GBX 375 price objective on shares of ConvaTec Group in a research report on Monday, May 18th. Citigroup lowered their target price on ConvaTec Group from GBX 250 to GBX 230 and set a "neutral" rating for the company in a report on Monday, May 18th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 300 target price on shares of ConvaTec Group in a research report on Wednesday.

ConvaTec Group Price Performance

CTEC stock opened at GBX 232.40 on Friday. The stock has a market cap of £4.54 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 0.93 and a beta of 0.77. The company has a debt-to-equity ratio of 121.83, a current ratio of 1.93 and a quick ratio of 0.96. The company has a 50 day simple moving average of GBX 213.38 and a 200 day simple moving average of GBX 221.01. ConvaTec Group has a 1 year low of GBX 193 and a 1 year high of GBX 259.30.

Insider Buying and Selling

In other ConvaTec Group news, insider Jonny Mason purchased 50,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was purchased at an average cost of GBX 201 per share, for a total transaction of £100,500. Also, insider Tobias Hestler purchased 50,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of GBX 226 per share, with a total value of £113,000. 0.98% of the stock is owned by company insiders.

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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