Karim Bitar Sells 436,692 Shares of ConvaTec Group PLC (LON:CTEC) Stock

ConvaTec Group PLC (LON:CTEC) insider Karim Bitar sold 436,692 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of GBX 256 ($3.33), for a total value of £1,117,931.52 ($1,452,047.69).

Karim Bitar also recently made the following trade(s):

• On Friday, March 14th, Karim Bitar sold 132,253 shares of ConvaTec Group stock. The stock was sold at an average price of GBX 256 ($3.33), for a total value of £338,567.68 ($439,755.40).

ConvaTec Group Price Performance

Shares of CTEC traded up GBX 1.40 ($0.02) during mid-day trading on Tuesday, hitting GBX 259.40 ($3.37). 373,079,156 shares of the stock were exchanged, compared to its average volume of 27,658,520. The firm has a 50-day moving average of GBX 245.67 and a two-hundred day moving average of GBX 234.36. ConvaTec Group PLC has a 52-week low of GBX 211.80 ($2.75) and a 52-week high of GBX 295.20 ($3.83). The company has a market cap of £6.60 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.96 and a current ratio of 2.26.

ConvaTec Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, April 17th will be issued a dividend of $0.05 per share. This represents a yield of 1.36%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from ConvaTec Group’s previous dividend of $0.02. ConvaTec Group’s dividend payout ratio is presently 84.20%.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 310 ($4.03) price objective on shares of ConvaTec Group in a report on Wednesday, March 5th.

ConvaTec Group Company Profile

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.