ConvaTec Group (LON:CTEC) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

ConvaTec Group PLC (LON:CTEC)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 228.45 ($2.96) and traded as low as GBX 211.80 ($2.75). ConvaTec Group shares last traded at GBX 213.40 ($2.77), with a volume of 6,968,435 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on ConvaTec Group from GBX 320 ($4.15) to GBX 305 ($3.96) and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 310 ($4.02) price target on shares of ConvaTec Group in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ConvaTec Group from GBX 323 ($4.19) to GBX 290 ($3.76) and set an “overweight” rating for the company in a research note on Wednesday, July 31st.

ConvaTec Group Stock Down 0.1 %

The company has a market cap of £4.37 billion, a PE ratio of 3,556.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The company has a fifty day moving average of GBX 228.45 and a two-hundred day moving average of GBX 241.91. The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26.

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.