ConvaTec Group (LON:CTEC) Share Price Crosses Below Fifty Day Moving Average of $246.07

ConvaTec Group PLC (LON:CTEC)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 246.07 ($3.18) and traded as low as GBX 242.40 ($3.14). ConvaTec Group shares last traded at GBX 249.60 ($3.23), with a volume of 4,136,557 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 310 ($4.01) price objective on shares of ConvaTec Group in a report on Tuesday, June 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 307.17 ($3.97).

ConvaTec Group Stock Up 1.7 %

The company has a market cap of £5.12 billion, a P/E ratio of 4,992.00, a PEG ratio of 2.10 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.62 and a debt-to-equity ratio of 77.53. The firm has a fifty day moving average price of GBX 245.99 and a 200 day moving average price of GBX 256.58.

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.