Royal Bank of Canada Cuts ConvaTec Group (LON:CTEC) Price Target to GBX 305

ConvaTec Group (LON:CTEC) had its price target lowered by Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a report published on Wednesday, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on ConvaTec Group from GBX 323 ($4.15) to GBX 290 ($3.73) and set an overweight rating for the company in a research note on Wednesday. Berenberg Bank restated a buy rating and set a GBX 310 ($3.99) price objective on shares of ConvaTec Group in a report on Tuesday, June 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of GBX 302.50 ($3.89).

ConvaTec Group Trading Up 0.1 %

LON CTEC opened at GBX 232 ($2.98) on Wednesday. ConvaTec Group has a 12 month low of GBX 195.10 ($2.51) and a 12 month high of GBX 295.20 ($3.80). The stock has a 50-day simple moving average of GBX 244.49 and a 200 day simple moving average of GBX 256.27. The company has a current ratio of 1.62, a quick ratio of 0.96 and a debt-to-equity ratio of 77.53. The company has a market capitalization of £4.76 billion, a PE ratio of 4,640.00, a P/E/G ratio of 2.10 and a beta of 0.60.

ConvaTec Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, August 22nd will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a dividend yield of 0.56%. ConvaTec Group’s dividend payout ratio is presently 10,000.00%.

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.