Berenberg Bank Reiterates Buy Rating for ConvaTec Group (LON:CTEC)

ConvaTec Group (LON:CTECGet Rating)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a GBX 250 ($3.26) price target on the stock. Berenberg Bank’s price objective points to a potential upside of 15.74% from the company’s current price.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ConvaTec Group in a research report on Tuesday, January 4th. Royal Bank of Canada reiterated an “underperform” rating and set a GBX 195 ($2.54) price objective on shares of ConvaTec Group in a research note on Thursday, March 24th. Finally, Barclays lowered their price target on ConvaTec Group from GBX 295 ($3.84) to GBX 290 ($3.78) and set an “overweight” rating on the stock in a research note on Tuesday, March 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 253.29 ($3.30).

ConvaTec Group stock opened at GBX 216 ($2.81) on Wednesday. The stock has a market capitalization of £4.39 billion and a P/E ratio of 49.14. The company’s fifty day moving average price is GBX 192.61 and its 200 day moving average price is GBX 195.76. The company has a debt-to-equity ratio of 84.85, a quick ratio of 1.34 and a current ratio of 1.95. ConvaTec Group has a 1 year low of GBX 165.30 ($2.15) and a 1 year high of GBX 265 ($3.45).

In related news, insider Kimberly Lody bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was bought at an average cost of GBX 204 ($2.66) per share, with a total value of £20,400 ($26,583.27).

About ConvaTec Group (Get Rating)

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as from traumatic injury, burns, invasive surgery, and other causes.

Further Reading

Analyst Recommendations for ConvaTec Group (LON:CTEC)

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