ConvaTec Group (LON:CTEC) Price Target Cut to GBX 305

ConvaTec Group (LON:CTEC) had its target price lowered by Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a report released on Wednesday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Berenberg Bank restated a buy rating and set a GBX 310 ($3.99) price objective on shares of ConvaTec Group in a research note on Tuesday, June 11th. JPMorgan Chase & Co. lowered their price target on shares of ConvaTec Group from GBX 323 ($4.15) to GBX 290 ($3.73) and set an overweight rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of GBX 302.50 ($3.89).

ConvaTec Group Stock Up 0.1 %

ConvaTec Group stock opened at GBX 232 ($2.98) on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.62 and a debt-to-equity ratio of 77.53. The firm has a market cap of £4.76 billion, a P/E ratio of 4,640.00, a P/E/G ratio of 2.10 and a beta of 0.60. The business has a fifty day moving average of GBX 244.87 and a two-hundred day moving average of GBX 256.38. ConvaTec Group has a twelve month low of GBX 195.10 ($2.51) and a twelve month high of GBX 295.20 ($3.80).

ConvaTec Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 22nd. This represents a yield of 0.56%. ConvaTec Group’s dividend payout ratio (DPR) is 10,000.00%.

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.