Berenberg Bank Has Lowered Expectations for ConvaTec Group (LON:CTEC) Stock Price

ConvaTec Group (LON:CTEC) had its price target decreased by equities researchers at Berenberg Bank from GBX 335 to GBX 330 in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 33.54% from the stock’s previous close.

CTEC has been the subject of a number of other reports. Peel Hunt reissued an “add” rating and issued a GBX 280 price target on shares of ConvaTec Group in a research report on Tuesday, July 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ConvaTec Group in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 308.

ConvaTec Group Trading Up 6.9%

LON:CTEC opened at GBX 247.12 on Tuesday. The stock has a market cap of £6.28 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. ConvaTec Group has a fifty-two week low of GBX 211.80 and a fifty-two week high of GBX 311.20. The company has a debt-to-equity ratio of 85.32, a current ratio of 2.26 and a quick ratio of 0.96. The stock’s 50-day moving average is GBX 254.47 and its two-hundred day moving average is GBX 257.89.

Insider Activity at ConvaTec Group

In other ConvaTec Group news, insider Karim Bitar sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of GBX 227, for a total value of £2,837,500. Corporate insiders own 19.65% of the company’s stock.

About ConvaTec Group

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.