ConvaTec Group (LON:CTEC) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of ConvaTec Group (LON:CTEC) in a report issued on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a GBX 300 ($3.79) price target on the stock.

Several other analysts have also recently issued reports on the stock. Barclays increased their target price on shares of ConvaTec Group from GBX 295 ($3.73) to GBX 300 ($3.79) and gave the stock an overweight rating in a research note on Friday, May 19th. JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 290 ($3.66) target price on shares of ConvaTec Group in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, ConvaTec Group currently has a consensus rating of Moderate Buy and an average price target of GBX 277 ($3.50).

ConvaTec Group Stock Performance

Shares of CTEC stock opened at GBX 229.40 ($2.90) on Tuesday. The stock has a market capitalization of £4.70 billion, a P/E ratio of 7,646.67, a PEG ratio of 2.17 and a beta of 0.67. The company has a current ratio of 1.70, a quick ratio of 0.96 and a debt-to-equity ratio of 90.12. The firm’s 50 day moving average is GBX 216.01 and its 200 day moving average is GBX 217.19. ConvaTec Group has a 12 month low of GBX 195.90 ($2.47) and a 12 month high of GBX 257.87 ($3.26).

ConvaTec Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 17th will be issued a $0.02 dividend. This represents a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, August 17th. ConvaTec Group’s payout ratio is 16,666.67%.

ConvaTec Group Company Profile

ConvaTec Group PLC engages in the development, manufacture, and marketing of medical products and technologies worldwide. 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.