Convatec Group (LON:CTEC) Share Price Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Convatec shares fell below their 50-day moving average, trading as low as GBX 212.60 and last changing hands at GBX 214, compared with a 50-day average of GBX 223.78.
• Analysts remain broadly positive: eight rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 305.44.
• Insider Tobias Hestler purchased 50,000 shares at GBX 226 each, while the company reported a £4.16 billion market capitalization and a debt-to-equity ratio of 121.83.

Convatec Group PLC (LON:CTEC - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 223.78 and traded as low as GBX 212.60. Convatec Group shares last traded at GBX 214, with a volume of 14,919,841 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group restated a "buy" rating and set a GBX 300 price objective on shares of Convatec Group in a report on Wednesday, August 5th. Peel Hunt restated an "add" rating and issued a GBX 270 price target on shares of Convatec Group in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 315 price objective on shares of Convatec Group in a research note on Wednesday, August 5th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 315 target price on shares of Convatec Group in a research note on Monday, August 3rd. Finally, Berenberg Bank reduced their target price on Convatec Group from GBX 340 to GBX 335 and set a "buy" rating for the company in a report on Friday, September 11th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Convatec Group has a consensus rating of "Moderate Buy" and a consensus target price of GBX 305.44.

Convatec Group Trading Down 2.1%

The company has a fifty day simple moving average of GBX 223.78 and a two-hundred day simple moving average of GBX 219.79. 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 market capitalization of £4.16 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77.

Insider Buying and Selling at Convatec Group

In related news, insider Tobias Hestler bought 50,000 shares of Convatec Group stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of GBX 226 per share, for a total transaction of £113,000. Insiders own 0.98% of the company's stock.

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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