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

Berenberg Bank restated their buy rating on shares of ConvaTec Group (LON:CTEC) in a report published on Tuesday, Marketbeat reports. The brokerage currently has a GBX 310 ($3.96) price objective on the stock.

Several other brokerages also recently weighed in on CTEC. JPMorgan Chase & Co. dropped their price objective on ConvaTec Group from GBX 323 ($4.13) to GBX 290 ($3.71) and set an overweight rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada lowered their price target on shares of 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of GBX 302.50 ($3.87).

ConvaTec Group Stock Performance

LON:CTEC opened at GBX 230.20 ($2.94) on Tuesday. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 85.32. The company has a market cap of £4.72 billion, a P/E ratio of 3,836.67, a price-to-earnings-growth ratio of 1.99 and a beta of 0.62. The firm’s fifty day moving average is GBX 242.77 and its two-hundred day moving average is GBX 255.81.

ConvaTec Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a yield of 0.56%. ConvaTec Group’s payout ratio is 8,333.33%.

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.