ConvaTec Group PLC (LON:CTEC) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Eight analysts have given ConvaTec a consensus Buy rating, with an average 1‑year target of GBX 319 and individual targets as high as GBX 340.
• Insider Jonny Mason sold 291,149 shares on March 16 at an average price of GBX 234 (about £681,289), and corporate insiders own roughly 0.95% of the stock.
• Shares opened at GBX 218.25 (below analyst targets and the 52‑week high of GBX 311.20); the company has a market cap of £4.25 billion and a P/E ratio of 25.38.

Shares of ConvaTec Group PLC (LON:CTEC - Get Free Report) have been assigned a consensus rating of "Buy" from the eight brokerages that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is GBX 319.

A number of research analysts have weighed in on CTEC shares. Citigroup reaffirmed an "outperform" rating and issued a GBX 315 price target on shares of ConvaTec Group in a research note on Thursday, March 5th. Berenberg Bank increased their price objective on shares of ConvaTec Group from GBX 330 to GBX 340 and gave the stock a "buy" rating in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus restated a "buy" rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, March 11th.

Insider Activity

In other news, insider Jonny Mason sold 291,149 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. 0.95% of the stock is owned by corporate insiders.

ConvaTec Group Price Performance

Shares of CTEC opened at GBX 218.25 on Monday. The company has a debt-to-equity ratio of 106.19, a quick ratio of 0.96 and a current ratio of 1.53. The stock has a 50 day simple moving average of GBX 231.34 and a 200 day simple moving average of GBX 235.29. ConvaTec Group has a 52-week low of GBX 209.40 and a 52-week high of GBX 311.20. The firm has a market capitalization of £4.25 billion, a PE ratio of 25.38, a P/E/G ratio of 0.93 and a beta of 0.76.

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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