ConvaTec Group - CTEC Share Forecast, Price & News

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as from traumatic injury, burns, invasive surgery, and other causes. The company also provides devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, bladder cancer, obesity, and other causes. In addition, it offers continence and critical care products, including intermittent urinary catheters; and products for people with urinary continence issues related to spinal cord injuries, multiple sclerosis, spina bifida, and other urological disorders, as well as devices and products used in intensive care units and hospital settings. Further, the company provides advanced systems for managing acute fecal incontinence, as well as for monitoring urine production output and intra-abdominal pressure; and various disposable medical devices, such as wound drainage systems, urine collection bags and catheters, airway management and oxygen/aerosol therapy devices, suction handles and tubes, gastroenterology tubes, and securement devices. Additionally, it offers disposable infusion sets to manufacturers of insulin pumps for diabetes, as well as similar pumps that are used in continuous infusion treatments for other conditions; and various products to hospital and home healthcare markets. The company sells its products to pharmacies, hospitals, and other acute and post-acute healthcare service providers directly or through distributors and wholesalers. It serves a range of customers, including healthcare providers, patients, and manufacturers. The company was founded in 1978 and is headquartered in Reading, the United Kingdom.

Analysts Set New Price Targets

CTEC has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of ConvaTec Group from GBX 255 ($3.08) to GBX 275 ($3.32) and gave the company an "overweight" rating in a research report on Friday, August 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a GBX 210 ($2.54) price target on shares of ConvaTec Group in a research report on Thursday. Berenberg Bank reissued a "buy" rating and set a GBX 250 ($3.02) price objective on shares of ConvaTec Group in a research note on Wednesday, May 18th. Finally, Barclays increased their price objective on shares of ConvaTec Group from GBX 285 ($3.44) to GBX 295 ($3.56) and gave the stock an "overweight" rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, ConvaTec Group has a consensus rating of "Moderate Buy" and a consensus target price of GBX 253 ($3.06).

ConvaTec Group Stock Down 0.5 %

Shares of CTEC Stock traded down GBX 1.20 ($0.01) during trading on Thursday, hitting GBX 236.80 ($2.86). 1,919,888 shares of the company were exchanged, compared to its average volume of 3,753,055. The company has a debt-to-equity ratio of 90.81, a quick ratio of 0.96 and a current ratio of 1.49. The firm has a market capitalization of £4.83 billion and a price-to-earnings ratio of 7,940.00. The business's 50-day simple moving average is GBX 221.16 and its 200 day simple moving average is GBX 206.87. ConvaTec Group has a twelve month low of GBX 165.30 ($2.00) and a twelve month high of GBX 256 ($3.09).

ConvaTec Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 6th. Investors of record on Thursday, August 25th will be given a dividend of GBX 1.41 ($0.02) per share. This represents a yield of 0.61%. The ex-dividend date of this dividend is Thursday, August 25th. ConvaTec Group's dividend payout ratio (DPR) is currently 186.71%.

Insider Buying and Selling at ConvaTec Group

In related news, insider Jonny Mason purchased 22,000 shares of ConvaTec Group stock in a transaction that occurred on Wednesday, May 18th. The shares were acquired at an average price of GBX 224 ($2.71) per share, for a total transaction of £49,280 ($59,545.67).