ConvaTec Group (LON:CTEC) Receives Buy Rating from Berenberg Bank

Berenberg Bank restated their buy rating on shares of ConvaTec Group (LON:CTEC) in a research note published on Tuesday morning, Marketbeat.com reports. Berenberg Bank currently has a GBX 310 ($3.96) price target on the stock.

A number of other equities analysts also recently commented on CTEC. JPMorgan Chase & Co. cut their price objective on shares of ConvaTec Group from GBX 323 ($4.13) to GBX 290 ($3.71) and set an overweight rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their target price on shares of ConvaTec Group from GBX 320 ($4.09) to GBX 305 ($3.90) and set an outperform rating for the company in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of GBX 302.50 ($3.87).

ConvaTec Group Stock Performance

Shares of LON:CTEC traded up GBX 1.80 ($0.02) on Tuesday, reaching GBX 232 ($2.96). The company’s stock had a trading volume of 2,831,824 shares, compared to its average volume of 5,518,034. ConvaTec Group has a 52-week low of GBX 195.10 ($2.49) and a 52-week high of GBX 295.20 ($3.77). The stock has a market capitalization of £4.76 billion, a P/E ratio of 3,866.67, a PEG ratio of 1.99 and a beta of 0.62. The stock’s 50-day moving average is GBX 242.44 and its two-hundred day moving average is GBX 255.70. The company has a debt-to-equity ratio of 85.32, a current ratio of 2.26 and a quick ratio of 0.96.

ConvaTec Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, August 22nd will be issued a $0.02 dividend. The ex-dividend date is Thursday, August 22nd. This represents a yield of 0.56%. ConvaTec Group’s dividend payout ratio (DPR) is 8,333.33%.

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.