ConvaTec Group (LON:CTEC) Stock Price Up 0.2% – Here’s Why

ConvaTec Group PLC (LON:CTEC)’s share price rose 0.2% during mid-day trading on Friday . The company traded as high as GBX 244.60 and last traded at GBX 243. Approximately 1,348,906,000 shares traded hands during trading, an increase of 6,441% from the average daily volume of 20,622,102 shares. The stock had previously closed at GBX 242.60.

Analyst Ratings Changes

CTEC has been the topic of a number of recent research reports. Royal Bank Of Canada raised shares of ConvaTec Group to an “outperform” rating and decreased their price target for the company from GBX 320 to GBX 315 in a research note on Thursday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 315 price target on shares of ConvaTec Group in a research note on Wednesday, July 30th. Berenberg Bank decreased their price target on shares of ConvaTec Group from GBX 335 to GBX 330 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ConvaTec Group in a research note on Wednesday, July 30th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 280 price target on shares of ConvaTec Group in a research note on Tuesday, October 28th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, ConvaTec Group presently has a consensus rating of “Buy” and a consensus target price of GBX 309.40.

ConvaTec Group Trading Up 0.2%

The firm has a market cap of £4.88 billion, a PE ratio of 22.92, a P/E/G ratio of 0.93 and a beta of 0.64. The company has a quick ratio of 0.96, a current ratio of 2.26 and a debt-to-equity ratio of 85.32. The company’s 50 day moving average price is GBX 237.96 and its two-hundred day moving average price is GBX 253.40.

Insider Activity

In related news, insider Karim Bitar sold 1,250,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of GBX 227, for a total value of £2,837,500. Also, insider Jonny Mason purchased 50,000 shares of ConvaTec Group stock in a transaction that occurred on Thursday, August 28th. The stock was bought at an average cost of GBX 235 per share, for a total transaction of £117,500. Company insiders own 0.91% of the company’s stock.

About ConvaTec Group

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.