ConvaTec Group’s (CTEC) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of ConvaTec Group (LON:CTEC) in a report published on Tuesday, Marketbeat.com reports. Berenberg Bank currently has a GBX 310 ($3.96) price objective on the stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of ConvaTec Group from GBX 323 ($4.13) to GBX 290 ($3.71) and set an overweight rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada cut their target price on ConvaTec Group from GBX 320 ($4.09) to GBX 305 ($3.90) and set an outperform rating on the stock in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ConvaTec Group currently has an average rating of Buy and a consensus price target of GBX 302.50 ($3.87).

ConvaTec Group Trading Up 0.1 %

Shares of LON CTEC opened at GBX 230.20 ($2.94) on Tuesday. The company has a 50-day simple moving average of GBX 242.77 and a 200-day simple moving average of GBX 255.81. The company has a quick ratio of 0.96, a current ratio of 2.26 and a debt-to-equity ratio of 85.32. The company has a market cap of £4.72 billion, a price-to-earnings ratio of 3,836.67, a PEG ratio of 1.99 and a beta of 0.62.

ConvaTec Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, August 22nd will be given a $0.02 dividend. This represents a dividend yield of 0.56%. The ex-dividend date is Thursday, August 22nd. ConvaTec Group’s payout ratio is currently 8,333.33%.

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.