ConvaTec Group (LON:CTEC) Sets New 1-Year Low – Should You Sell?

ConvaTec Group PLC (LON:CTEC)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as GBX 197.40 and last traded at GBX 202.60, with a volume of 20963307 shares traded. The stock had previously closed at GBX 214.20.

Wall Street Analyst Weigh In

CTEC has been the topic of a number of research reports. 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 report on Friday. Stifel Nicolaus restated a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a report on Wednesday, April 8th. Berenberg Bank restated a “buy” rating and issued a GBX 340 price objective on shares of ConvaTec Group in a report on Tuesday, April 21st. Finally, UBS Group restated a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, ConvaTec Group has an average rating of “Moderate Buy” and a consensus target price of GBX 308.78.

ConvaTec Group Stock Down 3.2%

The stock has a market cap of £3.85 billion, a P/E ratio of 22.91, a PEG 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. The business has a 50-day simple moving average of GBX 220.65 and a 200-day simple moving average of GBX 230.61.

Insider Transactions at ConvaTec Group

In other ConvaTec Group 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 transaction of £681,288.66. 0.95% of the stock is owned by 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.