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

ConvaTec Group PLC (LON:CTEC)’s share price hit a new 52-week low on Thursday . The company traded as low as GBX 208.60 and last traded at GBX 211, with a volume of 7088742 shares. The stock had previously closed at GBX 211.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CTEC shares. Berenberg Bank reiterated a “buy” rating and set a GBX 340 price objective on shares of ConvaTec Group in a research note on Tuesday, April 21st. Citigroup reiterated an “outperform” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Thursday, March 5th. Stifel Nicolaus reiterated a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, April 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 325 price objective on shares of ConvaTec Group in a research note on Friday, April 10th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 319.67.

ConvaTec Group Price Performance

The company has a market cap of £4.12 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 0.93 and a beta of 0.84. The business’s 50 day moving average price is GBX 231.31 and its 200-day moving average price is GBX 234.39. 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 other news, insider Jonny Mason sold 291,149 shares of ConvaTec Group stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of GBX 234, for a total transaction of £681,288.66. 0.95% of the stock is owned by corporate 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.