ConvaTec Group (CTEC) Given “Reduce” Rating at Numis Securities

Numis Securities restated their reduce rating on shares of ConvaTec Group (LON:CTEC) in a report released on Tuesday morning. The firm currently has a GBX 180 ($2.42) target price on the stock.

Other equities research analysts have also recently issued reports about the company. cut ConvaTec Group to a hold rating and reduced their price objective for the company from GBX 345 ($4.64) to GBX 240 ($3.23) in a research report on Tuesday, October 17th. Deutsche Bank increased their price objective on ConvaTec Group from GBX 330 ($4.44) to GBX 335 ($4.51) and gave the company a buy rating in a research report on Monday, August 21st. Peel Hunt raised their target price on ConvaTec Group from GBX 380 ($5.11) to GBX 390 ($5.25) and gave the stock a buy rating in a research report on Wednesday, August 9th. Goldman Sachs Group reaffirmed a buy rating and issued a GBX 330 ($4.44) target price on shares of ConvaTec Group in a research report on Monday, September 11th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and issued a GBX 303 ($4.08) target price on shares of ConvaTec Group in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. ConvaTec Group currently has a consensus rating of Hold and an average target price of GBX 251.20 ($3.38).

ConvaTec Group (LON CTEC) traded down GBX 0.12 ($0.00) during trading on Tuesday, reaching GBX 207.28 ($2.79). The company’s stock had a trading volume of 2,358,458 shares, compared to its average volume of 8,360,000. ConvaTec Group has a 1 year low of GBX 181.40 ($2.44) and a 1 year high of GBX 349.10 ($4.70).

In other news, insider Frank Schulkes purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average price of GBX 196 ($2.64) per share, for a total transaction of £98,000 ($131,897.71). Also, insider Christopher Gent purchased 38,889 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was purchased at an average price of GBX 213 ($2.87) per share, for a total transaction of £82,833.57 ($111,485.29). Over the last 90 days, insiders bought 93,797 shares of company stock valued at $19,074,773.

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ConvaTec Group Company Profile

ConvaTec Group Plc is a medical product and technology company. The Company focuses on therapies for the management of chronic conditions, including products used for advanced chronic and acute wound care, ostomy care, continence and critical care and infusion devices used in the treatment of diabetes and other conditions.

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