ConvaTec Group (LON:CTEC) Price Target Cut to GBX 335 by Analysts at Berenberg Bank

ConvaTec Group (LON:CTEC) had its target price dropped by equities researchers at Berenberg Bank from GBX 340 to GBX 335 in a research report issued on Friday, London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 53.39% from the stock’s current price.

CTEC has been the subject of several other research reports. UBS Group reiterated a “buy” rating and set a GBX 375 price target on shares of ConvaTec Group in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, August 5th. Peel Hunt restated an “add” rating and issued a GBX 270 target price on shares of ConvaTec Group in a report on Tuesday, August 4th. JPMorgan Chase & Co. decreased their target price on ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 315 price target on shares of ConvaTec Group in a report on Monday, August 3rd. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 305.44.

ConvaTec Group Trading Up 0.3%

ConvaTec Group stock opened at GBX 218.40 on Friday. ConvaTec Group has a one year low of GBX 193 and a one year high of GBX 259.30. The company’s fifty day moving average price is GBX 224.13 and its two-hundred day moving average price is GBX 220.95. The company has a debt-to-equity ratio of 121.83, a current ratio of 1.93 and a quick ratio of 0.96. The company has a market capitalization of £4.24 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 0.93 and a beta of 0.77.

Insider Activity at ConvaTec Group

In other ConvaTec Group news, insider Tobias Hestler acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of GBX 226 per share, with a total value of £113,000. Insiders own 0.98% 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. 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.