Short Interest in ConvaTec Group PLC (OTCMKTS:CNVVY) Declines By 99.6%

ConvaTec Group PLC (OTCMKTS:CNVVY) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 100 shares, a decline of 99.6% from the August 15th total of 27,900 shares. Based on an average daily trading volume, of 40,200 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNVVY. Berenberg Bank raised shares of ConvaTec Group to a “strong-buy” rating in a research note on Tuesday, August 6th. Barclays raised shares of ConvaTec Group to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, UBS Group upgraded shares of ConvaTec Group to a “strong-buy” rating in a research note on Wednesday, June 26th.

ConvaTec Group Stock Down 0.7 %

ConvaTec Group stock traded down $0.08 during midday trading on Thursday, reaching $11.92. 10,463 shares of the company traded hands, compared to its average volume of 29,305. The business has a 50 day moving average of $12.46 and a two-hundred day moving average of $13.04. ConvaTec Group has a 12 month low of $9.90 and a 12 month high of $15.40.

ConvaTec Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.0584 per share. The ex-dividend date of this dividend is Friday, August 23rd.

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.