ConvaTec Group (LON:CTEC) Shares Up 2.3% – Here’s What Happened

ConvaTec Group PLC (LON:CTEC)’s stock price shot up 2.3% during mid-day trading on Friday . The company traded as high as GBX 236 ($2.96) and last traded at GBX 235.80 ($2.96). 5,676,515 shares were traded during mid-day trading, a decline of 18% from the average session volume of 6,914,979 shares. The stock had previously closed at GBX 230.60 ($2.89).

Analyst Ratings Changes

A number of equities analysts recently weighed in on CTEC shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 310 ($3.89) price objective on shares of ConvaTec Group in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on shares of ConvaTec Group from GBX 320 ($4.01) to GBX 305 ($3.82) and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of ConvaTec Group from GBX 323 ($4.05) to GBX 290 ($3.64) and set an “overweight” rating on the stock in a research note on Wednesday, July 31st.

ConvaTec Group Stock Up 2.3 %

The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26. The firm has a market capitalization of £4.83 billion, a price-to-earnings ratio of 3,930.00, a PEG ratio of 0.93 and a beta of 0.64. The firm has a fifty day moving average price of GBX 226.78 and a 200 day moving average price of GBX 237.49.

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.