ConvaTec Group (LON:CTEC) Reaches New 1-Year Low – Here’s Why

ConvaTec Group PLC (LON:CTEC)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 195.50 and last traded at GBX 195.80, with a volume of 18188504 shares changing hands. The stock had previously closed at GBX 202.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on ConvaTec Group from GBX 307 to GBX 294 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research report on Wednesday, April 8th. Berenberg Bank restated a “buy” rating and set a GBX 340 price objective on shares of ConvaTec Group in a research report on Tuesday, April 21st. Citigroup reduced their price objective on ConvaTec Group from GBX 250 to GBX 230 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, UBS Group restated a “buy” rating and set a GBX 375 price objective on shares of ConvaTec Group in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, ConvaTec Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 308.78.

ConvaTec Group Stock Down 3.5%

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 stock has a 50-day simple moving average of GBX 218.45 and a 200-day simple moving average of GBX 229.73. The company has a market cap of £3.82 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

Insider Transactions at ConvaTec Group

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of GBX 234, for a total transaction of £681,288.66. Company 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.