JPMorgan Chase & Co. Lowers ConvaTec Group (LON:CTEC) Price Target to GBX 294

ConvaTec Group (LON:CTEC) had its price target decreased by equities researchers at JPMorgan Chase & Co. from GBX 307 to GBX 294 in a research report issued to clients and investors on Friday,Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 48.71% from the stock’s previous close.

Several other equities analysts have also weighed in on CTEC. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a research note on Wednesday, April 8th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 340 target price on shares of ConvaTec Group in a report on Tuesday, April 21st. Stifel Nicolaus reissued a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, March 11th. UBS Group reissued a “buy” rating and issued a GBX 375 price target on shares of ConvaTec Group in a research note on Monday. Finally, Citigroup decreased their price target on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 308.78.

ConvaTec Group Trading Down 2.9%

Shares of LON:CTEC opened at GBX 197.70 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. ConvaTec Group has a 12-month low of GBX 195.90 and a 12-month high of GBX 311.20. The business has a 50 day moving average of GBX 221.44 and a two-hundred day moving average of GBX 230.85. The company has a market capitalization of £3.86 billion, a PE ratio of 22.99, a PEG ratio of 0.93 and a beta of 0.78.

Insiders Place Their Bets

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