ConvaTec Group (LON:CTEC) Stock Price Crosses Below 50-Day Moving Average of $246.07

ConvaTec Group PLC (LON:CTEC)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 246.07 ($3.18) and traded as low as GBX 242.40 ($3.14). ConvaTec Group shares last traded at GBX 249.60 ($3.23), with a volume of 4,136,557 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 310 ($4.01) price target on shares of ConvaTec Group in a research note on Tuesday, June 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ConvaTec Group currently has a consensus rating of “Buy” and an average price target of GBX 307.17 ($3.97).

ConvaTec Group Stock Up 1.7 %

The company has a current ratio of 1.62, a quick ratio of 0.96 and a debt-to-equity ratio of 77.53. The stock has a 50 day simple moving average of GBX 245.99 and a 200 day simple moving average of GBX 256.58. The firm has a market capitalization of £5.12 billion, a PE ratio of 4,992.00, a PEG ratio of 2.10 and a beta of 0.60.

ConvaTec Group Company Profile

ConvaTec Group PLC engages in the development, manufacturing, and sale of medical products, services, and technologies in Europe, North America, and internationally. The company offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, and acute conditions resulting from traumatic injury and burns.