ConvaTec Group (LON:CTEC) Trading Up 2.3% – Should You Buy?

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

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of ConvaTec Group from GBX 323 ($4.05) to GBX 290 ($3.64) and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada lowered 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, Berenberg Bank restated a “buy” rating and issued a GBX 310 ($3.89) price target on shares of ConvaTec Group in a research note on Tuesday, August 6th.

ConvaTec Group Trading Up 2.3 %

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 stock has a market capitalization of £4.83 billion, a PE ratio of 3,930.00, a PEG ratio of 0.93 and a beta of 0.64. The business’s 50-day moving average is GBX 226.78 and its two-hundred day moving average is 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.