ConvaTec Group PLC (LON:CTEC) Receives Consensus Rating of “Buy” from Brokerages

ConvaTec Group PLC (LON:CTEC) has received an average rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is GBX 303 ($3.98).

Several research analysts have issued reports on CTEC shares. JPMorgan Chase & Co. dropped their price objective on ConvaTec Group from GBX 323 ($4.25) to GBX 290 ($3.81) and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Berenberg Bank reiterated a “buy” rating and set a GBX 310 ($4.08) target price on shares of ConvaTec Group in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada cut their price target on shares of ConvaTec Group from GBX 320 ($4.21) to GBX 305 ($4.01) and set an “outperform” rating for the company in a report on Wednesday, July 31st.

ConvaTec Group Trading Up 0.3 %

CTEC stock opened at GBX 230.80 ($3.03) on Thursday. 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 firm has a market cap of £4.73 billion, a P/E ratio of 3,833.33, a P/E/G ratio of 0.97 and a beta of 0.64. ConvaTec Group has a 1-year low of GBX 195.10 ($2.57) and a 1-year high of GBX 295.20 ($3.88). The business’s 50 day moving average is GBX 238.61 and its 200-day moving average is GBX 255.28.

ConvaTec Group Cuts Dividend

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