ConvaTec Group (LON:CTEC) Trading 9.3% Higher – What’s Next?

ConvaTec Group PLC (LON:CTEC) shares were up 9.3% during mid-day trading on Tuesday . The company traded as high as GBX 252.53 and last traded at GBX 248.20. Approximately 45,008,020 shares traded hands during mid-day trading, an increase of 123% from the average daily volume of 20,158,922 shares. The stock had previously closed at GBX 227.

Analyst Ratings Changes

Several brokerages recently issued reports on CTEC. Berenberg Bank increased their price objective on ConvaTec Group from GBX 330 to GBX 340 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ConvaTec Group in a research report on Friday, November 14th. Peel Hunt reaffirmed an “add” rating and set a GBX 270 price objective on shares of ConvaTec Group in a research report on Thursday, November 13th. Finally, UBS Group reiterated a “buy” rating and issued a GBX 375 target price on shares of ConvaTec Group in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 320.33.

ConvaTec Group Trading Up 2.1%

The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26. The company’s 50 day moving average price is GBX 234.86 and its 200 day moving average price is GBX 235.83. The company has a market cap of £5.01 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64.

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.