ConvaTec Group PLC (CTEC) Downgraded by HSBC Holdings plc to Hold

HSBC Holdings plc downgraded shares of ConvaTec Group PLC (LON:CTEC) to a hold rating in a report issued on Tuesday. They currently have GBX 240 ($3.19) price target on the stock, down from their prior price target of GBX 345 ($4.58).

A number of other equities analysts also recently commented on the company. Peel Hunt downgraded ConvaTec Group PLC to a hold rating and reduced their price objective for the stock from GBX 390 ($5.18) to GBX 250 ($3.32) in a research report on Tuesday. Numis Securities Ltd reiterated a reduce rating and set a GBX 260 ($3.45) price objective on shares of ConvaTec Group PLC in a research report on Thursday, August 3rd. J P Morgan Chase & Co reduced their price objective on ConvaTec Group PLC from GBX 318 ($4.23) to GBX 303 ($4.03) and set an overweight rating on the stock in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a GBX 340 ($4.52) price objective on shares of ConvaTec Group PLC in a research report on Friday, June 30th. Finally, Citigroup Inc. reiterated a neutral rating and set a GBX 290 ($3.85) price objective on shares of ConvaTec Group PLC in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of GBX 266.70 ($3.54).

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The business also recently disclosed a dividend, which will be paid on Friday, October 20th. Shareholders of record on Thursday, September 7th will be paid a dividend of GBX 1.06 ($0.01) per share. This represents a yield of 0.36%. The ex-dividend date is Thursday, September 7th.

About ConvaTec Group PLC

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.

Analyst Recommendations for ConvaTec Group PLC (LON:CTEC)

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