ConvaTec Group (LON:CTEC) Reaches New 1-Year Low – Here’s Why

ConvaTec Group PLC (LON:CTEC) shares reached a new 52-week low during trading on Thursday . The company traded as low as GBX 195.50 and last traded at GBX 195.80, with a volume of 18188504 shares traded. The stock had previously closed at GBX 202.80.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup dropped their price objective on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 325 price objective on shares of ConvaTec Group in a research note on Friday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, March 11th. JPMorgan Chase & Co. dropped their price objective on ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Finally, UBS Group reissued a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a research note on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, ConvaTec Group presently has an average rating of “Moderate Buy” and an average price target of GBX 308.78.

ConvaTec Group Stock Down 3.5%

The business has a 50-day moving average price of GBX 218.45 and a 200-day moving average price of GBX 229.73. The company has a market capitalization of £3.82 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 106.19.

Insider Activity

In related news, insider Jonny Mason bought 50,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of GBX 201 per share, with a total value of £100,500. 0.95% of the stock is owned by company insiders.

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. 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.