ConvaTec Group (LON:CTEC) Shares Up 2.3% – Should You Buy?

ConvaTec Group PLC (LON:CTEC) rose 2.3% during trading on Friday . The company traded as high as GBX 236 ($2.96) and last traded at GBX 235.80 ($2.96). Approximately 5,676,515 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 6,914,979 shares. The stock had previously closed at GBX 230.60 ($2.89).

Analyst Ratings Changes

Several brokerages have weighed in on CTEC. Royal Bank of Canada dropped their target price on ConvaTec Group from GBX 320 ($4.01) to GBX 305 ($3.82) and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 310 ($3.89) price objective on shares of ConvaTec Group in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of ConvaTec Group from GBX 323 ($4.05) to GBX 290 ($3.64) and set an “overweight” rating for the company in a research report on Wednesday, July 31st.

ConvaTec Group Stock Up 2.3 %

The company has a quick ratio of 0.96, a current ratio of 2.26 and a debt-to-equity ratio of 85.32. The firm has a 50-day moving average price of GBX 226.67 and a two-hundred day moving average price of GBX 237.50. The company has a market capitalization of £4.83 billion, a P/E ratio of 3,930.00, a PEG ratio of 0.93 and a beta of 0.64.

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.