ConvaTec Group (LON:CTEC) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of ConvaTec Group PLC (LON:CTEC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 235.27 and traded as low as GBX 215.20. ConvaTec Group shares last traded at GBX 218.25, with a volume of 787,206,313 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, March 11th. Berenberg Bank lifted their target price on ConvaTec Group from GBX 330 to GBX 340 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Citigroup reissued an “outperform” rating and issued a GBX 315 price target on shares of ConvaTec Group in a report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 319.

ConvaTec Group Price Performance

The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The company has a market cap of £4.25 billion, a P/E ratio of 25.38, a PEG ratio of 0.93 and a beta of 0.76. The business’s fifty day moving average is GBX 231.34 and its 200 day moving average is GBX 235.29.

Insider Transactions at ConvaTec Group

In other ConvaTec Group news, insider Jonny Mason sold 291,149 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. 0.95% of the stock is owned by corporate insiders.

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. It also provides ostomy care solutions, including devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, and bladder cancer.