Jefferies Financial Group Reaffirms "Buy" Rating for ConvaTec Group (LON:CTEC)

Key Points

• Jefferies Financial Group reaffirmed a "Buy" rating on ConvaTec with a GBX 325 price target, implying roughly a 37.8% upside from the prior close.
• Analyst support is broad—nine analysts rate the stock Buy and the consensus target is about GBX 319.7.
• Shares opened at GBX 235.80 (market cap ~£4.61bn) with a P/E of 27.4 and PEG of 0.93, and insider Jonny Mason sold 291,149 shares at GBX 234 (≈£681k), leaving insiders with 0.95% ownership.

ConvaTec Group (LON:CTEC - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Jefferies Financial Group in a research note issued to investors on Friday,London Stock Exchange reports. They currently have a GBX 325 price target on the stock. Jefferies Financial Group's target price would indicate a potential upside of 37.83% from the company's previous close.

CTEC has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday. Stifel Nicolaus reissued a "buy" rating and set a GBX 315 price target on shares of ConvaTec Group in a research report on Wednesday, March 11th. Berenberg Bank raised their price target 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, Citigroup reissued an "outperform" rating and set a GBX 315 price target on shares of ConvaTec Group in a research report on Thursday, March 5th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, ConvaTec Group currently has an average rating of "Buy" and a consensus target price of GBX 319.67.

ConvaTec Group Stock Performance

Shares of ConvaTec Group stock opened at GBX 235.80 on Friday. The firm has a market capitalization of £4.61 billion, a P/E ratio of 27.42, a PEG ratio of 0.93 and a beta of 0.84. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 106.19. The company has a 50 day moving average price of GBX 230.44 and a 200 day moving average price of GBX 234.89. ConvaTec Group has a 52 week low of GBX 209.40 and a 52 week high of GBX 311.20.

Insider Buying and Selling at ConvaTec Group

In other news, insider Jonny Mason sold 291,149 shares of ConvaTec Group stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of GBX 234, for a total transaction of £681,288.66. 0.95% of the stock is currently owned by company insiders.

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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