ConvaTec Group PLC (LON:CTEC) Receives Average Rating of “Buy” from Analysts

Shares of ConvaTec Group PLC (LON:CTEC) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is GBX 302.50 ($3.99).

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of ConvaTec Group from GBX 323 ($4.26) to GBX 290 ($3.82) and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada decreased their price target on shares of ConvaTec Group from GBX 320 ($4.22) to GBX 305 ($4.02) and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 310 ($4.09) price target on shares of ConvaTec Group in a report on Tuesday, August 6th.

ConvaTec Group Price Performance

Shares of LON CTEC opened at GBX 232.40 ($3.06) on Thursday. ConvaTec Group has a 1 year low of GBX 195.10 ($2.57) and a 1 year high of GBX 295.20 ($3.89). The firm’s 50 day moving average price is GBX 238.78 and its 200 day moving average price is GBX 255.39. The firm has a market cap of £4.76 billion, a P/E ratio of 3,873.33, a price-to-earnings-growth ratio of 1.09 and a beta of 0.62. The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26.

ConvaTec Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, August 22nd will be paid a $0.02 dividend. This represents a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 22nd. ConvaTec Group’s dividend payout ratio is presently 8,333.33%.

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.