ConvaTec Group (LON:CTEC) Price Target Lowered to GBX 230 at Citigroup

ConvaTec Group (LON:CTEC) had its price target reduced by Citigroup from GBX 250 to GBX 230 in a note issued to investors on Monday,Digital Look reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 10.26% from the stock’s previous close.

A number of other research firms have also issued reports on CTEC. Stifel Nicolaus restated a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a research report on Wednesday, March 11th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 325 price objective on shares of ConvaTec Group in a research report on Friday. Berenberg Bank reiterated a “buy” rating and issued a GBX 340 price objective on shares of ConvaTec Group in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 310.22.

ConvaTec Group Price Performance

CTEC stock opened at GBX 208.60 on Monday. The company has a debt-to-equity ratio of 106.19, a current ratio of 1.53 and a quick ratio of 0.96. The business has a 50 day simple moving average of GBX 224.16 and a 200-day simple moving average of GBX 231.78. The firm has a market capitalization of £4.08 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. ConvaTec Group has a 1 year low of GBX 199 and a 1 year high of GBX 311.20.

Insiders Place Their Bets

In related news, insider Jonny Mason sold 291,149 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. Insiders own 0.95% of the company’s stock.

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.