ConvaTec Group (CTEC) Earns Reduce Rating from Numis Securities

ConvaTec Group (LON:CTEC)‘s stock had its “reduce” rating reissued by investment analysts at Numis Securities in a research report issued on Tuesday. They presently have a GBX 180 ($2.42) price target on the stock. Numis Securities’ price objective suggests a potential downside of 12.37% from the stock’s current price.

Several other research analysts have also commented on CTEC. Goldman Sachs Group reiterated a “buy” rating and issued a GBX 330 ($4.44) target price on shares of ConvaTec Group in a research report on Monday, September 11th. Deutsche Bank lifted their target price on ConvaTec Group from GBX 330 ($4.44) to GBX 335 ($4.51) and gave the stock a “buy” rating in a research report on Monday, August 21st. Peel Hunt lifted their target price on ConvaTec Group from GBX 380 ($5.11) to GBX 390 ($5.25) and gave the stock a “buy” rating in a research report on Wednesday, August 9th. lowered ConvaTec Group to a “hold” rating and decreased their target price for the stock from GBX 345 ($4.64) to GBX 240 ($3.23) in a research report on Tuesday, October 17th. Finally, Credit Suisse Group decreased their target price on ConvaTec Group from GBX 280 ($3.77) to GBX 225 ($3.03) and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of GBX 251.20 ($3.38).

Shares of ConvaTec Group (LON CTEC) opened at GBX 205.40 ($2.76) on Tuesday. ConvaTec Group has a 12 month low of GBX 181.40 ($2.44) and a 12 month high of GBX 349.10 ($4.70).

In related news, insider Christopher Gent acquired 38,889 shares of ConvaTec Group stock in a transaction that occurred on Wednesday, October 18th. The stock was acquired at an average price of GBX 213 ($2.87) per share, for a total transaction of £82,833.57 ($111,485.29). Also, insider Frank Schulkes bought 50,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were acquired at an average cost of GBX 196 ($2.64) per share, for a total transaction of £98,000 ($131,897.71).

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ConvaTec Group 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.

Analyst Recommendations for ConvaTec Group (LON:CTEC)

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