ConvaTec Group PLC (CTEC) Given Consensus Recommendation of “Hold” by Analysts

ConvaTec Group PLC (LON:CTEC) has received an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 245.78 ($3.33).

Several equities research analysts have recently weighed in on CTEC shares. downgraded shares of ConvaTec Group to a “hold” rating and dropped their target price for the stock from GBX 345 ($4.68) to GBX 240 ($3.25) in a research report on Tuesday, October 17th. Peel Hunt reissued a “hold” rating and issued a GBX 250 ($3.39) target price on shares of ConvaTec Group in a research report on Tuesday, October 31st. Credit Suisse Group lowered their price objective on shares of ConvaTec Group from GBX 280 ($3.80) to GBX 225 ($3.05) and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Numis Securities downgraded shares of ConvaTec Group to a “sell” rating and set a GBX 220 ($2.98) price objective for the company. in a research report on Monday, October 16th. Finally, Citigroup lowered their price objective on shares of ConvaTec Group from GBX 290 ($3.93) to GBX 226 ($3.06) and set a “neutral” rating for the company in a research report on Tuesday, October 17th.

Shares of ConvaTec Group (CTEC) opened at GBX 198 ($2.69) on Wednesday. The firm has a market cap of $3,820.00 and a PE ratio of -1,800.00. ConvaTec Group has a 1 year low of GBX 181.40 ($2.46) and a 1 year high of GBX 349.10 ($4.73).

In related news, insider Frank Schulkes purchased 50,000 shares of ConvaTec Group stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of GBX 196 ($2.66) per share, with a total value of £98,000 ($132,899.38). Also, insider Christopher Gent purchased 38,889 shares of ConvaTec Group stock in a transaction dated Wednesday, October 18th. The stock was bought at an average cost of GBX 213 ($2.89) per share, with a total value of £82,833.57 ($112,331.94). In the last 90 days, insiders acquired 98,618 shares of company stock valued at $20,067,899.

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ConvaTec Group Company Profile

ConvaTec Group Plc is a medical product and technology company. The Company focuses on therapies for the management of chronic conditions, including products used for advanced chronic and acute wound care, ostomy care, continence and critical care and infusion devices used in the treatment of diabetes and other conditions.

Analyst Recommendations for ConvaTec Group (LON:CTEC)

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