ConvaTec Group (LON:CTEC) Stock Passes Below Fifty Day Moving Average of $276.15

Shares of ConvaTec Group PLC (LON:CTEC) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 276.15 ($3.47) and traded as low as GBX 251.80 ($3.16). ConvaTec Group shares last traded at GBX 258.80 ($3.25), with a volume of 4,770,454 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CTEC shares. Berenberg Bank boosted their target price on shares of ConvaTec Group from GBX 290 ($3.64) to GBX 310 ($3.89) and gave the company a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of ConvaTec Group from GBX 300 ($3.77) to GBX 323 ($4.06) and gave the company an “overweight” rating in a research report on Thursday, March 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 307.17 ($3.86).

ConvaTec Group Stock Performance

The company has a debt-to-equity ratio of 77.53, a quick ratio of 0.96 and a current ratio of 1.62. The firm has a market cap of £5.31 billion, a P/E ratio of 5,176.00, a P/E/G ratio of 2.40 and a beta of 0.55. The company’s 50 day moving average is GBX 276.15 and its 200 day moving average is GBX 246.59.

ConvaTec Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.04 per share. This is an increase from ConvaTec Group’s previous dividend of $0.02. The ex-dividend date of this dividend is Thursday, April 25th. This represents a dividend yield of 1.39%. ConvaTec Group’s dividend payout ratio (DPR) is 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.