Convatec surges on strong Q3, raises guidance By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2024
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Source: Investing.com
Strong Revenue Growth: Convatec's shares rose 20% after reporting a 7.7% increase in organic revenue for the first ten months of 2024, exceeding its previous guidance and prompting an upward revision of its full-year growth forecast to 7.25%-8.0%.
Positive Outlook and Segment Performance: The company anticipates continued double-digit growth in earnings per share and free cash flow, driven by strong demand in its Advanced Wound Care division and steady growth across other segments, while also preparing for future margin expansion.
Analyst Views on CTEC
Wall Street analysts forecast CTEC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CTEC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 60.234
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Current: 60.234
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
