ConvaTec Group (LON:CTEC) Reaches New 12-Month Low – Here’s What Happened

ConvaTec Group PLC (LON:CTEC)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as GBX 201.60 and last traded at GBX 202, with a volume of 9905975 shares trading hands. The stock had previously closed at GBX 206.02.

Analysts Set New Price Targets

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

ConvaTec Group Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The firm has a 50-day simple moving average of GBX 227.33 and a two-hundred day simple moving average of GBX 232.93. The company has a market capitalization of £3.96 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

Insiders Place Their Bets

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. 0.95% of the stock is currently 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.