Peel Hunt Reaffirms “Hold” Rating for ConvaTec Group (CTEC)
A number of other research firms also recently issued reports on CTEC. Jefferies Financial Group lowered their price objective on shares of ConvaTec Group from GBX 280 ($3.66) to GBX 210 ($2.74) and set a buy rating on the stock in a report on Wednesday, October 31st. Deutsche Bank reiterated a sell rating on shares of ConvaTec Group in a report on Friday, October 5th. Royal Bank of Canada reiterated an outperform rating and issued a GBX 240 ($3.14) price objective on shares of ConvaTec Group in a report on Wednesday, August 8th. JPMorgan Chase & Co. downgraded shares of ConvaTec Group to a neutral rating and lowered their price objective for the company from GBX 280 ($3.66) to GBX 183 ($2.39) in a report on Tuesday, October 16th. Finally, Numis Securities reiterated a hold rating and issued a GBX 220 ($2.87) price objective on shares of ConvaTec Group in a report on Monday, October 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. ConvaTec Group currently has an average rating of Hold and a consensus target price of GBX 202.82 ($2.65).
Shares of LON CTEC traded up GBX 0.65 ($0.01) during midday trading on Thursday, reaching GBX 151.65 ($1.98). The company’s stock had a trading volume of 1,615,940 shares, compared to its average volume of 5,440,000. ConvaTec Group has a fifty-two week low of GBX 181.40 ($2.37) and a fifty-two week high of GBX 349.10 ($4.56).
ConvaTec Group Company Profile
ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as for traumatic injury, burns, invasive surgery, and other causes.
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