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

ConvaTec Group (LON:CTEC) had its price objective cut by stock analysts at Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a research report issued on Wednesday, LSE.Co.UK reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 29.35% from the company’s current price.

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

ConvaTec Group Stock Down 0.6 %

Shares of LON CTEC traded down GBX 1.40 ($0.02) during trading on Wednesday, hitting GBX 235.80 ($3.03). 35,518,742 shares of the company traded hands, compared to its average volume of 5,662,104. The business’s fifty day moving average is GBX 245.67 and its 200 day moving average is GBX 256.70. ConvaTec Group has a fifty-two week low of GBX 195.10 ($2.51) and a fifty-two week high of GBX 295.20 ($3.80). The firm has a market capitalization of £4.83 billion, a price-to-earnings ratio of 4,740.00, a P/E/G ratio of 2.10 and a beta of 0.60. The company has a debt-to-equity ratio of 77.53, a quick ratio of 0.96 and a current ratio of 1.62.

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.