ConvaTec Group (LON:CTEC) Stock Price Expected to Rise, Berenberg Bank Analyst Says

ConvaTec Group (LON:CTEC) had its price target increased by equities research analysts at Berenberg Bank from GBX 330 to GBX 340 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 45.30% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Peel Hunt reissued an “add” rating and set a GBX 270 price objective on shares of ConvaTec Group in a research note on Thursday, November 13th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ConvaTec Group in a report on Friday, November 14th. Finally, UBS Group reissued a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 320.33.

ConvaTec Group Price Performance

CTEC stock opened at GBX 234 on Thursday. 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 business has a 50 day simple moving average of GBX 236.08 and a 200-day simple moving average of GBX 237.77. The firm has a market capitalization of £4.56 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. ConvaTec Group has a 1 year low of GBX 219.80 and a 1 year high of GBX 311.20.

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.