ConvaTec Group PLC (LON:CTEC) Insider Sells £2,837,500 in Stock

Key Points

• Karim Bitar, an insider at ConvaTec Group PLC, sold 1,250,000 shares for £2,837,500 ($3.05 per share) on August 7th.
• ConvaTec Group has seen a stock price increase of 0.1% and currently has a market capitalization of £5.83 billion.
• Analysts are optimistic, with JPMorgan and Deutsche Bank issuing "overweight" and "buy" ratings, respectively, along with target prices of GBX 280 and GBX 315.

ConvaTec Group PLC (LON:CTEC - Get Free Report) insider Karim Bitar sold 1,250,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of GBX 227 ($3.05), for a total transaction of £2,837,500 ($3,814,869.59).

ConvaTec Group Stock Up 0.1%

LON CTEC opened at GBX 229.20 ($3.08) on Monday. The company has a debt-to-equity ratio of 85.32, a current ratio of 2.26 and a quick ratio of 0.96. The company's 50 day simple moving average is GBX 264.29 and its 200 day simple moving average is GBX 258.91. ConvaTec Group PLC has a 12 month low of GBX 211.80 ($2.85) and a 12 month high of GBX 311.20 ($4.18). The company has a market capitalization of £5.83 billion, a P/E ratio of 38.60, a PEG ratio of 0.93 and a beta of 0.64.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTEC. JPMorgan Chase & Co. restated an "overweight" rating on shares of ConvaTec Group in a research report on Wednesday, July 30th. Peel Hunt reiterated an "add" rating and issued a GBX 280 ($3.76) target price on shares of ConvaTec Group in a report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 315 ($4.24) target price on shares of ConvaTec Group in a report on Wednesday, July 30th.

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.

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