ConvaTec Group (CTEC) Stock Rating Reaffirmed by Numis Securities
ConvaTec Group (LON:CTEC)‘s stock had its “reduce” rating restated by equities research analysts at Numis Securities in a research note issued on Tuesday. They currently have a GBX 180 ($2.42) price objective on the stock. Numis Securities’ target price suggests a potential downside of 14.00% from the company’s current price.
CTEC has been the topic of a number of other reports. Peel Hunt downgraded shares of ConvaTec Group to a “hold” rating and lowered their price objective for the company from GBX 390 ($5.25) to GBX 250 ($3.36) in a research report on Tuesday, October 17th. Citigroup reaffirmed a “neutral” rating and set a GBX 290 ($3.90) price objective on shares of ConvaTec Group in a research report on Wednesday, October 11th. Deutsche Bank reaffirmed a “sell” rating and set a GBX 180 ($2.42) price objective on shares of ConvaTec Group in a research report on Friday, December 1st. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 303 ($4.08) price objective on shares of ConvaTec Group in a research report on Wednesday, September 20th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a GBX 330 ($4.44) price objective on shares of ConvaTec Group in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of GBX 245.78 ($3.31).
Shares of ConvaTec Group (CTEC) traded up GBX 1.80 ($0.02) on Tuesday, reaching GBX 209.30 ($2.82). 2,534,530 shares of the company were exchanged, compared to its average volume of 8,360,000. ConvaTec Group has a 52-week low of GBX 181.40 ($2.44) and a 52-week high of GBX 349.10 ($4.70).
In related news, insider Ros Rivaz bought 4,821 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average cost of GBX 206 ($2.77) per share, for a total transaction of £9,931.26 ($13,366.43). Also, insider Frank Schulkes bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were bought at an average price of GBX 196 ($2.64) per share, with a total value of £98,000 ($131,897.71). Insiders bought 98,618 shares of company stock valued at $20,067,899 over the last 90 days.
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About ConvaTec Group
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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