Brokerages Set ConvaTec Group PLC (CTEC) PT at $266.70
Shares of ConvaTec Group PLC (LON:CTEC) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is GBX 266.70 ($3.51).
Several equities analysts have recently weighed in on the company. Citigroup Inc. reaffirmed a “neutral” rating and issued a GBX 290 ($3.81) price objective on shares of ConvaTec Group PLC in a research note on Wednesday, October 11th. Peel Hunt reaffirmed a “hold” rating and issued a GBX 250 ($3.29) price objective on shares of ConvaTec Group PLC in a research note on Tuesday, October 31st. Numis Securities Ltd reduced their price objective on ConvaTec Group PLC from GBX 260 ($3.42) to GBX 250 ($3.29) and set a “reduce” rating on the stock in a research note on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 330 ($4.34) price objective on shares of ConvaTec Group PLC in a research note on Sunday, August 6th. Finally, Credit Suisse Group reduced their price objective on ConvaTec Group PLC from GBX 280 ($3.68) to GBX 225 ($2.96) and set a “neutral” rating on the stock in a research note on Tuesday, October 17th.
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In related news, insider Christopher Gent bought 38,889 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were acquired at an average cost of GBX 213 ($2.80) per share, for a total transaction of £82,833.57 ($108,948.53). Also, insider Frank Schulkes bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were bought at an average price of GBX 196 ($2.58) per share, for a total transaction of £98,000 ($128,896.49).
Shares of ConvaTec Group PLC (LON CTEC) traded down GBX 2.50 ($0.03) during trading hours on Tuesday, reaching GBX 195.50 ($2.57). The company’s stock had a trading volume of 3,830,176 shares, compared to its average volume of 9,640,000. ConvaTec Group PLC has a 12-month low of GBX 181.98 ($2.39) and a 12-month high of GBX 349.10 ($4.59).
About ConvaTec Group PLC
ConvaTec Group Plc is a medical product and technology company. The Company focuses on therapies for the management of chronic conditions, including products used for advanced chronic and acute wound care, ostomy care, continence and critical care and infusion devices used in the treatment of diabetes and other conditions.
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