ConvaTec Group (LON:CTEC) Trading 2.3% Higher - Still a Buy?

ConvaTec Group PLC (LON:CTEC - Get Free Report)'s share price traded up 2.3% on Friday . The stock traded as high as GBX 236 ($2.96) and last traded at GBX 235.80 ($2.96). 5,676,515 shares were traded during trading, a decline of 18% from the average session volume of 6,914,979 shares. The stock had previously closed at GBX 230.60 ($2.89).

Wall Street Analyst Weigh In

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

ConvaTec Group Stock Up 2.3 %

The company has a market capitalization of £4.83 billion, a price-to-earnings ratio of 3,930.00, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The firm's 50 day moving average price is GBX 226.78 and its two-hundred day moving average price is GBX 237.49. The company has a current ratio of 2.26, a quick ratio of 0.96 and a debt-to-equity ratio of 85.32.

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.