Royal Bank of Canada Cuts ConvaTec Group (LON:CTEC) Price Target to GBX 305

ConvaTec Group (LON:CTEC) had its price objective decreased by Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a research report released on Wednesday, Marketbeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Berenberg Bank reiterated a buy rating and set a GBX 310 ($3.99) target price on shares of ConvaTec Group in a research note on Tuesday, June 11th. JPMorgan Chase & Co. reduced their price objective on ConvaTec Group from GBX 323 ($4.15) to GBX 290 ($3.73) and set an overweight rating for the company in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of GBX 302.50 ($3.89).

ConvaTec Group Trading Up 0.1 %

LON:CTEC opened at GBX 232 ($2.98) on Wednesday. The stock has a market cap of £4.76 billion, a price-to-earnings ratio of 4,640.00, a PEG ratio of 2.10 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.62 and a debt-to-equity ratio of 77.53. The company’s 50 day moving average price is GBX 244.87 and its 200-day moving average price is GBX 256.38. ConvaTec Group has a 52 week low of GBX 195.10 ($2.51) and a 52 week high of GBX 295.20 ($3.80).

ConvaTec Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, August 22nd will be issued a $0.02 dividend. This represents a dividend yield of 0.56%. The ex-dividend date is Thursday, August 22nd. ConvaTec Group’s payout ratio is currently 10,000.00%.

About ConvaTec Group

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.