ConvaTec Group (LON:CTEC) Price Target Lowered to GBX 230 at Citigroup

ConvaTec Group (LON:CTEC) had its price target decreased by equities research analysts at Citigroup from GBX 250 to GBX 230 in a report issued on Monday,Digital Look reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 10.26% from the stock’s previous close.

A number of other research firms have also recently weighed in on CTEC. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 325 price target on shares of ConvaTec Group in a report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 315 price target on shares of ConvaTec Group in a report on Wednesday, April 8th. Berenberg Bank reiterated a “buy” rating and set a GBX 340 price objective on shares of ConvaTec Group in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a GBX 315 price objective on shares of ConvaTec Group in a research note on Wednesday, March 11th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, ConvaTec Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 310.22.

ConvaTec Group Stock Performance

LON CTEC opened at GBX 208.60 on Monday. The stock has a market capitalization of £4.08 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 0.93 and a beta of 0.78. ConvaTec Group has a twelve month low of GBX 199 and a twelve month high of GBX 311.20. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 106.19. The stock has a 50-day moving average of GBX 224.16 and a 200 day moving average of GBX 231.78.

Insider Activity

In other news, insider Jonny Mason sold 291,149 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of GBX 234, for a total value of £681,288.66. 0.95% of the stock is owned by company insiders.

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. It also provides ostomy care solutions, including devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, and bladder cancer.