ConvaTec Group PLC (LON:CTEC) Given Consensus Recommendation of “Buy” by Analysts

ConvaTec Group PLC (LON:CTEC) has been given an average rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is GBX 302.50 ($3.98).

Several research firms have issued reports on CTEC. Royal Bank of Canada decreased their price objective on shares of ConvaTec Group from GBX 320 ($4.21) to GBX 305 ($4.01) and set an “outperform” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on ConvaTec Group from GBX 323 ($4.25) to GBX 290 ($3.81) and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 310 ($4.08) price target on shares of ConvaTec Group in a report on Tuesday, August 6th.

ConvaTec Group Price Performance

Shares of LON CTEC opened at GBX 238.20 ($3.13) 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 stock has a market capitalization of £4.88 billion, a price-to-earnings ratio of 3,970.00, a PEG ratio of 1.09 and a beta of 0.62. The firm’s 50 day simple moving average is GBX 238.63 and its 200-day simple moving average is GBX 255.50. ConvaTec Group has a 12 month low of GBX 195.10 ($2.57) and a 12 month high of GBX 295.20 ($3.88).

ConvaTec Group Cuts Dividend

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