ConvaTec Group (LON:CTEC) Sets New 52-Week Low – Time to Sell?

ConvaTec Group PLC (LON:CTEC)’s stock price reached a new 52-week low on Tuesday . The company traded as low as GBX 215 and last traded at GBX 219.80, with a volume of 36902102 shares changing hands. The stock had previously closed at GBX 232.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTEC shares. UBS Group reaffirmed a “buy” rating and issued a GBX 375 price objective on shares of ConvaTec Group in a research report on Friday, November 7th. Peel Hunt reiterated an “add” rating and issued a GBX 270 price target on shares of ConvaTec Group in a report on Thursday, November 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ConvaTec Group in a report on Friday, November 14th. Finally, Berenberg Bank raised their target price on shares of ConvaTec Group from GBX 330 to GBX 340 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 320.33.

ConvaTec Group Stock Down 0.5%

The business’s fifty day simple moving average is GBX 235.56 and its two-hundred day simple moving average is GBX 236.57. The company has a market cap of £4.50 billion, a PE ratio of 21.77, a PEG ratio of 0.93 and a beta of 0.64. The company has a debt-to-equity ratio of 85.32, a current ratio of 2.26 and a quick ratio of 0.96.

About ConvaTec Group

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. It also provides ostomy care solutions, including devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, and bladder cancer.