ConvaTec Group (LON:CTEC) Reaches New 12-Month Low – Here’s What Happened

Shares of ConvaTec Group PLC (LON:CTEC) hit a new 52-week low on Tuesday . The stock traded as low as GBX 201.60 and last traded at GBX 202, with a volume of 9905975 shares. The stock had previously closed at GBX 206.02.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CTEC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 315 target price on shares of ConvaTec Group in a research report on Wednesday, April 8th. Berenberg Bank reissued a “buy” rating and set a GBX 340 price objective on shares of ConvaTec Group in a report on Tuesday, April 21st. Citigroup reissued an “outperform” rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Thursday, March 5th. Stifel Nicolaus reissued a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, March 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 325 price objective on shares of ConvaTec Group in a report on Friday, April 10th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, ConvaTec Group presently has an average rating of “Buy” and a consensus price target of GBX 319.67.

ConvaTec Group Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The firm has a market cap of £3.96 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The stock has a fifty day moving average price of GBX 227.33 and a 200 day moving average price of GBX 232.93.

Insider Transactions at ConvaTec Group

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of the firm’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 owned by company 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.