ConvaTec Group (LON:CTEC) Given New GBX 305 Price Target at Royal Bank of Canada

ConvaTec Group (LON:CTEC) had its price target dropped by research analysts at Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a report released on Wednesday, LSE.Co.UK reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 29.35% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 310 ($3.99) price target on shares of ConvaTec Group in a research report on Tuesday, June 11th. JPMorgan Chase & Co. reduced their price target on ConvaTec Group from GBX 323 ($4.15) to GBX 290 ($3.73) and set an “overweight” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 302.50 ($3.89).

ConvaTec Group Trading Down 0.6 %

ConvaTec Group stock traded down GBX 1.40 ($0.02) during midday trading on Wednesday, reaching GBX 235.80 ($3.03). 35,518,742 shares of the stock traded hands, compared to its average volume of 5,662,104. The company has a 50-day simple moving average of GBX 245.67 and a two-hundred day simple moving average of GBX 256.70. 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 firm has a market cap of £4.83 billion, a PE ratio of 4,740.00, a price-to-earnings-growth ratio of 2.10 and a beta of 0.60. The company has a current ratio of 1.62, a quick ratio of 0.96 and a debt-to-equity ratio of 77.53.

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.