Insider Buying: ConvaTec Group PLC (CTEC) Insider Acquires £82,833.57 in Stock

ConvaTec Group PLC (LON:CTEC) insider Christopher Gent purchased 38,889 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were acquired at an average price of GBX 213 ($2.83) per share, for a total transaction of £82,833.57 ($110,063.21).

ConvaTec Group PLC (CTEC) opened at 214.40 on Friday. ConvaTec Group PLC has a 1-year low of GBX 191.20 and a 1-year high of GBX 349.10. The company has a 50-day moving average of GBX 265.80 and a 200-day moving average of GBX 294.40. The firm’s market capitalization is GBX 4.18 billion.

The company also recently announced a dividend, which was paid on Friday, October 20th. Investors of record on Thursday, September 7th were issued a dividend of GBX 1.06 ($0.01) per share. The ex-dividend date was Thursday, September 7th. This represents a yield of 0.36%.

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Several brokerages have recently commented on CTEC. Peel Hunt restated a “buy” rating and set a GBX 380 ($5.05) price target on shares of ConvaTec Group PLC in a research note on Thursday, August 3rd. Numis Securities Ltd lowered shares of ConvaTec Group PLC to a “reduce” rating and dropped their price target for the stock from GBX 276 ($3.67) to GBX 260 ($3.45) in a research note on Tuesday, July 11th. HSBC Holdings plc lowered shares of ConvaTec Group PLC to a “hold” rating and dropped their price target for the stock from GBX 345 ($4.58) to GBX 240 ($3.19) in a research note on Tuesday, October 17th. Goldman Sachs Group Inc restated a “buy” rating and set a GBX 340 ($4.52) price target on shares of ConvaTec Group PLC in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG increased their price target on shares of ConvaTec Group PLC from GBX 330 ($4.38) to GBX 335 ($4.45) and gave the stock a “buy” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of GBX 266.70 ($3.54).

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.

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