ConvaTec Group’s (CTEC) Buy Rating Reaffirmed at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of ConvaTec Group (LON:CTEC) in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a GBX 310 ($3.96) price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of ConvaTec Group from GBX 323 ($4.13) to GBX 290 ($3.71) and set an overweight rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada decreased their price objective on ConvaTec Group from GBX 320 ($4.09) to GBX 305 ($3.90) and set an outperform rating for the company in a report on Wednesday, July 31st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of GBX 302.50 ($3.87).

ConvaTec Group Stock Up 0.8 %

Shares of LON:CTEC traded up GBX 1.80 ($0.02) during trading on Tuesday, reaching GBX 232 ($2.96). 2,831,824 shares of the stock were exchanged, compared to its average volume of 5,518,034. ConvaTec Group has a 1-year low of GBX 195.10 ($2.49) and a 1-year high of GBX 295.20 ($3.77). The stock has a fifty day moving average of GBX 242.44 and a two-hundred day moving average of GBX 255.70. 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 firm has a market cap of £4.76 billion, a price-to-earnings ratio of 3,866.67, a price-to-earnings-growth ratio of 1.99 and a beta of 0.62.

ConvaTec Group Cuts Dividend

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