Convatec Group (CTEC)

Sector:

Health Care

Index:

FTSE 100

289.80p
   
  • Change Today:
    -0.60p
  • 52 Week High: 293.15
  • 52 Week Low: 213.40
  • Currency: UK Pounds
  • Shares Issued: 2,049.79m
  • Volume: 7,987,830
  • Market Cap: £5,940m
  • RiskGrade: 96

RBC Capital upgrades Convatec to 'outperform', hikes price target

By Michele Maatouk

Date: Thursday 07 Sep 2023

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets upgraded ConvaTec on Thursday to 'outperform' from 'sector perform' and hiked the price target to 300p from 215p.
The bank said Wound Care execution could drive more than 5% upside to consensus revenue forecasts in 2027.

"ConvaTec is showing clear execution in Wound Care, which we estimate will contribute nearly half of group revenue growth to 2027E," it said.

RBC said it would expect increased Wound Care volumes to lead to meaningful operating leverage in manufacturing and SG&A, plus meaningful mix benefits, leading to earnings growth meaningfully higher than revenue.

"Our top-down model indicates that continuing execution could imply circa 13% upside to consensus forecasts for Wound Care in 2027, or ,more than 5% upside to group revenue forecasts. We estimate that nearly half of ConvaTec's growth in Wound Care will be through market share gains.

"We update our forecasts to include risk-adjusted estimates from our top-down model, leaving us 4.1% and 6.0% ahead of consensus on 2027E revenue and EPS respectively.

"We update our valuation methodology to reflect ConvaTec's higher growth and margin profiles, leading us to increase our price target...and upgrade to outperform."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CTEC Market Data

Currency UK Pounds
Share Price 289.80p
Change Today -0.60p
% Change -0.21 %
52 Week High 293.15
52 Week Low 213.40
Volume 7,987,830
Shares Issued 2,049.79m
Market Cap £5,940m
RiskGrade 96

CTEC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.3% below the market average97.3% below the market average97.3% below the market average97.3% below the market average97.3% below the market average
93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average
Price Trend
80.64% above the market average80.64% above the market average80.64% above the market average80.64% above the market average80.64% above the market average
89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average
Income
87.4% below the market average87.4% below the market average87.4% below the market average87.4% below the market average87.4% below the market average
Sector averageSector averageSector averageSector averageSector average
Growth
43.06% above the market average43.06% above the market average43.06% above the market average43.06% above the market average43.06% above the market average
25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average

What The Brokers Say

Strong Buy 7
Buy 9
Neutral 3
Sell 0
Strong Sell 0
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CTEC Dividends

  Latest Previous
  Final Interim
Ex-Div 17-Apr-25 22-Aug-24
Paid 29-May-25 04-Oct-24
Amount 4.59¢ 1.82¢

Trades for 30-May-2025

Time Volume / Share Price
16:43 352 @ 289.80p
16:42 352 @ 289.81p
16:40 3,111 @ 289.80p
16:40 6,050 @ 289.80p
16:35 230,204 @ 289.80p

CTEC Key Personnel

CEO Karim Bitar
Chair John McAdam
CFO Jonny Mason

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