ConvaTec Group (LON:CTEC) Hits New 52-Week Low – Here’s Why

ConvaTec Group PLC (LON:CTEC) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 215 and last traded at GBX 219.80, with a volume of 36902102 shares trading hands. The stock had previously closed at GBX 232.

Wall Street Analyst Weigh In

CTEC has been the subject of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ConvaTec Group in a report on Friday, November 14th. UBS Group reaffirmed a “buy” rating and issued a GBX 375 target price on shares of ConvaTec Group in a research report on Friday, November 7th. Peel Hunt reissued an “add” rating and set a GBX 270 price target on shares of ConvaTec Group in a report on Thursday, November 13th. Finally, Berenberg Bank raised their price target on ConvaTec Group from GBX 330 to GBX 340 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 320.33.

ConvaTec Group Stock Down 0.4%

The company’s 50-day simple moving average is GBX 234.91 and its two-hundred day simple moving average is GBX 236.32. The firm has a market capitalization of £4.34 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.93 and a beta of 0.64. 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 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. It also provides ostomy care solutions, including devices, accessories, and services for people with a stoma resulting from colorectal cancer, inflammatory bowel disease, and bladder cancer.