ConvaTec Group (CTEC) Trading Down 22.2%

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Shares of ConvaTec Group PLC (LON:CTEC) traded down 22.2% during trading on Thursday . The company traded as low as GBX 113.25 ($1.48) and last traded at GBX 115.35 ($1.51). 4,077,983 shares traded hands during trading, a decline of 25% from the average session volume of 5,440,000 shares. The stock had previously closed at GBX 148.25 ($1.94).

Several equities research analysts have recently commented on the stock. Jefferies Financial Group dropped their target price on shares of ConvaTec Group from GBX 280 ($3.66) to GBX 210 ($2.74) and set a “buy” rating for the company in a research report on Wednesday, October 31st. Peel Hunt reissued a “hold” rating on shares of ConvaTec Group in a research note on Thursday, November 1st. Barclays initiated coverage on ConvaTec Group in a research report on Tuesday, November 27th. They set an “underweight” rating and a GBX 150 ($1.96) price objective for the company. Deutsche Bank dropped their price objective on ConvaTec Group from GBX 180 ($2.35) to GBX 130 ($1.70) and set a “sell” rating on the stock in a report on Monday, December 10th. Finally, UBS Group downgraded ConvaTec Group to a “neutral” rating and cut their price objective for the stock from GBX 250 ($3.27) to GBX 150 ($1.96) in a report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 193.77 ($2.53).

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ConvaTec Group Company Profile (LON:CTEC)

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as for traumatic injury, burns, invasive surgery, and other causes.

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