tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

ConvaTec Advances $300 Million Share Buyback Program

Story Highlights
ConvaTec Advances $300 Million Share Buyback Program

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

ConvaTec ( (GB:CTEC) ) has shared an update.

ConvaTec Group PLC has announced the repurchase of 527,553 of its ordinary shares as part of a previously declared $300 million share buyback program. The shares, purchased through UBS AG London Branch, will be held in treasury, impacting the company’s total voting rights and potentially enhancing shareholder value by reducing the number of shares in circulation.

The most recent analyst rating on (GB:CTEC) stock is a Buy with a £258.00 price target. To see the full list of analyst forecasts on ConvaTec stock, see the GB:CTEC Stock Forecast page.

Spark’s Take on GB:CTEC Stock

According to Spark, TipRanks’ AI Analyst, GB:CTEC is a Outperform.

ConvaTec’s overall stock score reflects its strong financial performance, which is the most significant factor. The company’s robust revenue growth, profitability, and cash flow management are key strengths. However, technical analysis indicates mixed signals, and the valuation suggests the stock may be overvalued, which could limit future gains. The absence of earnings call data and corporate events means these factors do not influence the score.

To see Spark’s full report on GB:CTEC stock, click here.

More about ConvaTec

ConvaTec Group PLC operates in the medical products and technologies industry, focusing on products and services for advanced wound care, ostomy care, continence and critical care, and infusion devices. The company is committed to improving the lives of people with chronic conditions and is a key player in the healthcare market.

Average Trading Volume: 7,703,736

Technical Sentiment Signal: Buy

Current Market Cap: £4.79B

For a thorough assessment of CTEC stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1