ConvaTec Group (LON:CTEC) Stock Price Crosses Below 50 Day Moving Average of $276.15

ConvaTec Group PLC (LON:CTEC)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 276.15 ($3.47) and traded as low as GBX 251.80 ($3.16). ConvaTec Group shares last traded at GBX 258.80 ($3.25), with a volume of 4,770,454 shares changing hands.

Analyst Upgrades and Downgrades

CTEC has been the topic of a number of analyst reports. Berenberg Bank increased their price objective on ConvaTec Group from GBX 290 ($3.64) to GBX 310 ($3.89) and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. lifted their price target on shares of ConvaTec Group from GBX 300 ($3.77) to GBX 323 ($4.06) and gave the stock an “overweight” rating in a report on Thursday, March 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 307.17 ($3.86).

ConvaTec Group Price Performance

The company has a 50 day moving average of GBX 276.15 and a 200 day moving average of GBX 246.91. 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 stock has a market capitalization of £5.31 billion, a price-to-earnings ratio of 5,176.00, a price-to-earnings-growth ratio of 2.40 and a beta of 0.55.

ConvaTec Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This is a boost from ConvaTec Group’s previous dividend of $0.02. This represents a dividend yield of 1.39%. ConvaTec Group’s dividend payout ratio (DPR) is currently 10,000.00%.

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.