Royal Bank of Canada Cuts ConvaTec Group (LON:CTEC) Price Target to GBX 305

ConvaTec Group (LON:CTEC) had its price target trimmed by Royal Bank of Canada from GBX 320 ($4.12) to GBX 305 ($3.92) in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CTEC. JPMorgan Chase & Co. decreased their price objective on ConvaTec Group from GBX 323 ($4.15) to GBX 290 ($3.73) and set an overweight rating for the company in a report on Wednesday. Berenberg Bank reiterated a buy rating and set a GBX 310 ($3.99) price target on shares of ConvaTec Group in a research note on Tuesday, June 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ConvaTec Group presently has an average rating of Buy and a consensus price target of GBX 302.50 ($3.89).

ConvaTec Group Stock Up 0.1 %

ConvaTec Group stock opened at GBX 232 ($2.98) on Wednesday. The company has a market capitalization of £4.76 billion, a P/E ratio of 4,640.00, a PEG ratio of 2.10 and a beta of 0.60. The company has a debt-to-equity ratio of 77.53, a quick ratio of 0.96 and a current ratio of 1.62. ConvaTec Group has a fifty-two week low of GBX 195.10 ($2.51) and a fifty-two week high of GBX 295.20 ($3.80). The stock has a 50-day simple moving average of GBX 244.49 and a 200-day simple moving average of GBX 256.27.

ConvaTec Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.02 per share. This represents a dividend yield of 0.56%. The ex-dividend date is Thursday, August 22nd. ConvaTec Group’s dividend payout ratio (DPR) is presently 10,000.00%.

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.