Consort Medical (CSRT) Trading Down 21.3% After Analyst Downgrade

Consort Medical plc (LON:CSRT) shares were down 21.3% during mid-day trading on Tuesday after Shore Capital lowered their price target on the stock from GBX 1,255 to GBX 1,215. Shore Capital currently has a hold rating on the stock. Consort Medical traded as low as GBX 772 ($10.09) and last traded at GBX 772 ($10.09). Approximately 3,911 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 23,005 shares. The stock had previously closed at GBX 981 ($12.82).

Separately, Royal Bank of Canada raised Consort Medical to an “outperform” rating and dropped their target price for the company from GBX 1,430 ($18.69) to GBX 1,320 ($17.25) in a report on Tuesday.

The business also recently announced a dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 17th will be issued a GBX 7.60 ($0.10) dividend. This represents a dividend yield of 0.99%. The ex-dividend date is Thursday, January 17th.

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About Consort Medical (LON:CSRT)

Consort Medical plc operates as a one-stop developer and manufacturer of drugs and premium drug delivery devices. It operates through two divisions, Bespak and Aesica. The company provides various life improving treatments to patients across worldwide through the design, development, and manufacture of medical devices for inhaled, injectable, nasal, and ocular drug delivery, as well as point of care diagnostics products.

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