ConvaTec Group Plc (OTCMKTS:CNVVY) Sees Significant Increase in Short Interest

ConvaTec Group Plc (OTCMKTS:CNVVY – Get Rating) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 200 shares, a growth of 100.0% from the March 15th total of 100 shares. Based on an average daily trading volume, of 1,600 shares, the short-interest ratio is presently 0.1 days.

Shares of OTCMKTS CNVVY opened at $11.43 on Friday. The firm has a 50 day moving average of $10.36 and a 200 day moving average of $10.59. ConvaTec Group has a 12-month low of $9.06 and a 12-month high of $14.71.

The firm also recently announced a dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, April 1st will be given a dividend of $0.1325 per share. The ex-dividend date is Thursday, March 31st. This represents a yield of 1.6%.

Several research analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of ConvaTec Group in a report on Thursday, March 17th. They set a “buy” rating for the company. Credit Suisse Group decreased their price objective on shares of ConvaTec Group from GBX 210 ($2.74) to GBX 195 ($2.54) in a report on Friday, March 11th. Barclays boosted their price objective on shares of ConvaTec Group from GBX 290 ($3.78) to GBX 295 ($3.84) in a report on Tuesday, March 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ConvaTec Group from GBX 278 ($3.62) to GBX 256 ($3.34) and set an “overweight” rating for the company in a report on Friday, January 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ConvaTec Group presently has a consensus rating of “Hold” and an average price target of $248.67.

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.

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