HSBC Holdings plc downgraded shares of ConvaTec Group PLC (LON:CTEC) to a hold rating in a report released on Tuesday, October 17th. The brokerage currently has GBX 240 ($3.17) price objective on the stock, down from their prior price objective of GBX 345 ($4.55).
Several other equities analysts have also recently commented on CTEC. Numis Securities Ltd cut their price target on ConvaTec Group PLC from GBX 260 ($3.43) to GBX 250 ($3.30) and set a reduce rating for the company in a report on Wednesday, August 9th. Peel Hunt reissued a buy rating and issued a GBX 380 ($5.01) target price on shares of ConvaTec Group PLC in a report on Thursday, August 3rd. Credit Suisse Group dropped their target price on ConvaTec Group PLC from GBX 280 ($3.69) to GBX 225 ($2.97) and set a neutral rating for the company in a report on Tuesday, October 17th. Deutsche Bank AG reissued a buy rating and issued a GBX 330 ($4.35) target price on shares of ConvaTec Group PLC in a report on Sunday, August 6th. Finally, Citigroup Inc. reissued a neutral rating and issued a GBX 290 ($3.83) target price on shares of ConvaTec Group PLC in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of GBX 266.70 ($3.52).
Shares of ConvaTec Group PLC (LON CTEC) opened at 199.60 on Tuesday. ConvaTec Group PLC has a 12-month low of GBX 191.20 and a 12-month high of GBX 349.10. The firm’s market capitalization is GBX 3.90 billion. The stock has a 50 day moving average price of GBX 256.08 and a 200 day moving average price of GBX 291.90.
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The firm also recently disclosed a dividend, which was paid on Friday, October 20th. Investors of record on Thursday, September 7th were paid a dividend of GBX 1.06 ($0.01) per share. This represents a yield of 0.36%. The ex-dividend date was Thursday, September 7th.
In other ConvaTec Group PLC news, insider Christopher Gent acquired 38,889 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were acquired at an average price of GBX 213 ($2.81) per share, with a total value of £82,833.57 ($109,307.96).
ConvaTec Group PLC Company Profile
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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