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

Key Points

• Jefferies reaffirmed a Buy rating on ConvaTec Group and set a GBX 300 price target, implying 32.98% potential upside from the prior close.
• Analyst sentiment remains positive overall: eight analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target price of GBX 306.
• ConvaTec shares closed at GBX 225.60 after falling GBX 3.80, while insider Jonny Mason purchased 50,000 shares at GBX 201, worth £100,500.

ConvaTec Group (LON:CTEC - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. They currently have a GBX 300 price objective on the stock. Jefferies Financial Group's price objective indicates a potential upside of 32.98% from the company's previous close.

Other analysts also recently issued research reports about the stock. Citigroup cut their price target on shares of ConvaTec Group from GBX 250 to GBX 230 and set a "neutral" rating for the company in a report on Monday, May 18th. Berenberg Bank restated a "buy" rating and set a GBX 340 price objective on shares of ConvaTec Group in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on ConvaTec Group from GBX 307 to GBX 294 and set an "overweight" rating on the stock in a report on Friday, May 22nd. UBS Group reiterated a "buy" rating and issued a GBX 375 price target on shares of ConvaTec Group in a research note on Monday, May 18th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a GBX 315 price target on shares of ConvaTec Group in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 306.

ConvaTec Group Price Performance

CTEC traded down GBX 3.80 on Wednesday, hitting GBX 225.60. 16,583,473 shares of the stock were exchanged, compared to its average volume of 41,480,781. The firm has a market capitalization of £4.41 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 0.93 and a beta of 0.77. The company has a debt-to-equity ratio of 99.96, a current ratio of 1.53 and a quick ratio of 0.96. ConvaTec Group has a 12 month low of GBX 193 and a 12 month high of GBX 259.30. The business has a 50-day moving average of GBX 211.76 and a two-hundred day moving average of GBX 221.09.

Insiders Place Their Bets

In other news, insider Jonny Mason bought 50,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of GBX 201 per share, with a total value of £100,500. 0.98% of the stock is owned by corporate 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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