ConvaTec Group PLC (LON:CTEC) Receives Average Rating of “Buy” from Brokerages

Shares of ConvaTec Group PLC (LON:CTEC) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is GBX 307.17 ($3.79).

Several analysts have recently issued reports on the company. Berenberg Bank increased their price objective on ConvaTec Group from GBX 290 ($3.58) to GBX 310 ($3.83) and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on ConvaTec Group from GBX 300 ($3.71) to GBX 323 ($3.99) and gave the company an “overweight” rating in a research note on Thursday, March 7th.

ConvaTec Group Price Performance

CTEC stock opened at GBX 275.60 ($3.40) on Friday. The company has a debt-to-equity ratio of 77.53, a current ratio of 1.62 and a quick ratio of 0.96. The business has a 50 day simple moving average of GBX 274.60 and a 200-day simple moving average of GBX 244.45. The firm has a market capitalization of £5.65 billion, a PE ratio of 5,512.00, a price-to-earnings-growth ratio of 2.40 and a beta of 0.55. ConvaTec Group has a 1 year low of GBX 195.10 ($2.41) and a 1 year high of GBX 295.20 ($3.65).

ConvaTec Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a yield of 1.39%. This is an increase from ConvaTec Group’s previous dividend of $0.02. ConvaTec Group’s dividend payout ratio (DPR) is presently 10,000.00%.

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.