JPMorgan Chase & Co. Cuts ConvaTec Group (LON:CTEC) Price Target to GBX 294

ConvaTec Group (LON:CTEC) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from GBX 307 to GBX 294 in a report released on Friday,Digital Look reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 48.71% from the company’s previous close.

CTEC has been the topic of several other reports. UBS Group restated a “buy” rating and set a GBX 375 price objective on shares of ConvaTec Group in a research report on Monday. Citigroup lowered their price target on shares of ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday, April 8th. Stifel Nicolaus reissued a “buy” rating and set a GBX 315 price target on shares of ConvaTec Group in a research note on Wednesday, March 11th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 325 target price on shares of ConvaTec Group in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ConvaTec Group currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 308.78.

ConvaTec Group Price Performance

Shares of ConvaTec Group stock opened at GBX 197.70 on Friday. The company has a debt-to-equity ratio of 106.19, a quick ratio of 0.96 and a current ratio of 1.53. The stock’s fifty day moving average is GBX 221.44 and its 200 day moving average is GBX 230.85. The stock has a market cap of £3.86 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.93 and a beta of 0.78. ConvaTec Group has a one year low of GBX 195.90 and a one year high of GBX 311.20.

Insider Activity at ConvaTec Group

In related news, insider Jonny Mason sold 291,149 shares of the firm’s stock in a transaction 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.

ConvaTec Group Company Profile

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.