ConvaTec Group (CTEC)

Investors liked plans by Apple to offer various new services including new TV, gaming and credit card platforms, sending its shares up 1.4% to $191.4. This move suggests it is trying new ways of growing earnings without being so reliant on sales of iPhones and its other consumer electronics products, which are slowing. While the company may be nearing saturation point with sales of tablets and ...

Wound management specialist ConvaTec (CTEC) has poached Genus (GNS) chief executive officer (CEO) Karim Bitar in a bid to turnaround the embattled firm’s fortunes amid a reshuffle in management. Shares in ConvaTec have jumped 5.1% to 141.1p while shares in Genus reversed 5.4% to £22.34. Since 2011, Karim has helped to transform Genus by boosting its presence in key emerging ...

European and Asian markets are weak on Monday after US data on Friday sparked fears of a global economic slowdown. The Japanese and Chinese benchmarks are down by 3% and 2% respectively and US futures are pointing to further weakness when the market opens later today. The FTSE 100 index is caught up in the sell-off, losing 0.5% to 7,170 points with miners Antofagasta (ANTO) and Evraz (EVR) and ...

Shares in FTSE 250 medical products specialist ConvaTec (CTEC) have crashed by 21% to 177.4p after poor fourth quarter sales, weak guidance for 2019 and a plan to spend millions of pounds to try and put the business in a better shape. ConvaTec has been struggling amid fierce competition from low priced wound care product providers. Wound care organic revenue fell by 1.8% in the fourth ...

The FTSE 100 is up 0.4% 7,222.45 as positively received corporate results help provide the index with a lift on Thursday. Pharmaceutical giant AstraZeneca (AZN) gains 4% to £59.49 after a 'strong' fourth quarter led by performance of new medicines underscored its return to growth and saw the drugmaker meet its guidance. For the 12 months to 31 December, revenue fell 2% to $22.1bn and ...

Shares in woundcare specialist ConvaTec (CTEC) have plummeted 27.4% to 162.6p after cutting expectations for organic growth and earnings margins. A change in inventory policy by its largest customer in the Infusion Devices division is anticipated to hit fourth quarter sales by between $18m and $23m, and is expected to impact its Advanced Wound Care division. Sales in Infusion Devices have ...

European shares are failing to rebound on Monday following a torrid week, as rising US yields, trade wars and ongoing Brexit-related uncertainties triggered a global equity markets correction. The ‘risk-off’ mood is prevailing with London’s FTSE 100 and FTSE 250 shedding 12.1 points and 145.8 points respectively to trade at 6,983.8 and 18,828. Convenience foods giant Greencore ...

Medical devices and healthcare equipment are vital to helping people live longer and healthier lives, and globally this market is worth an estimated $340bn every year according to leading operator Smith & Nephew (SN.). As well as developing and manufacturing life-changing and enhancing products, there is also a significant market for helping meet demand for quality care and ...

ConvaTec (CTEC) beats full year sales expectations, helping to overshadow ongoing supply issues. Shares in the woundcare firm rose 9.8% to 217.1p after delivering organic sales growth of 2.3% to $1.76bn in the year to 31 December 2017. AJ Bell investment director Russ Mould attributes the rise in the share price to beating sales expectations, but argues the firm is still nursing a ...

Autos and aero engineering group GKN (GKN) continues to fight for its independence on Thursday as it again urges shareholders to resist the hostile takeover by turnaround specialist Melrose (MRO). GKN has written to shareholders describing the takeover attempt as ‘entirely opportunistic’, and again insists that the £7.4bn shares offer ‘fundamentally undervalues’ the ...

Supply issues and a fall in full year revenue growth toppled ConvaTec’s (CTEC) shares late last year, leaving the wound care specialist trading below the 225p price at which it joined the stock market in October 2016. Shares in ConvaTec are now trading at 188.65p. The company publishes its half year results on 15 February. Management need to spell out when ConvaTec can resolve its supply ...

The healthcare sector has taken a blow on news that one of its biggest London-listed stocks will be ejected from the FTSE 100 in December following the index’s quarterly reshuffle. A decline in the valuation of woundcare specialist ConvaTec (CTEC) means the stock will be demoted to the FTSE 250, as there are now other firms in the mid cap index with higher valuations who will be ...

Stock markets are rallying around the world including a good performance from the main indices in the UK. While this bull-run is exciting for investors, not everyone will be toasting big returns from their portfolio. One third of the stocks in the FTSE 100 are now trading at a lower price than at the start of 2017. That’s despite the FTSE 100 index having risen by 5% year to date. Does that ...

Shares in FTSE 100 woundcare specialist ConvaTec (CTEC) have fallen below the price at which it joined the stock market exactly a year ago. At 214.4p, they now trade 4.7% below the 225p IPO (initial public offering) price. Supply issues have ‘severely impacted’ ConvaTec’s advanced wound and ostomy care division resulting in the company cutting its full year sales growth guidance. Full ...

Woundcare specialist ConvaTec (CTEC) has been ‘severely impacted’ by supply issues in its advanced wound and ostomy care division, forcing the company to cut its anticipated full year sales growth. Guidance for full year revenue growth is cut from 4% to between 1% and 2% depending on whether ConvaTec can resolve supply issues, fulfil backorders and recover orders in both divisions. The ...

On a quiet day for corporate announcements the FTSE 100 trades slightly higher at 7,539.03 as tensions between Iraq and Kurdistan drive up oil prices. Mining stocks are also higher on a rally in Chinese iron ore prices. Antofagasta (ANTO) leads the way, up 2.8% to £10.43. Medical products firm ConvaTec (CTEC) falls 14.8% to 237.9p as it warns full year profit will be lower than previous ...

Woundcare specialist ConvaTec (CTEC) is the worst performing FTSE 100 stock (3 Aug) after announcing a drop in operating profit and the departure of well-respected chief financial officer Nigel Clerkin. Its shares fall 6.8% to 287.9p. In the first half of 2017, operating profit declined by 7.4% to $15.5m as higher operating expenses made a dent in the business. ConvaTec says operating ...

A big breakthrough in cancer treatment could be on the cards as the FDA’s advisory committee backs the tumour investigation therapy CTL019, developed by Novartis. This is superb news for the UK’s Oxford BioMedica (OXB), whose pin-prick blood test technology is a key part of the process. Getting the advisory committee’s thumbs-up makes it much more likely to get full FDA clinical ...

The future looks exciting for Smith & Nephew (SN.) with several products in its pipeline and plans to drive growth through emerging markets and acquisitions. In 2016, Smith & Nephew had a tough year as there was a slowdown in government spending in China and too much stock to shift. Weak oil prices also made trading difficult in the Gulf States. The history Smith & Nephew ...

British online retailer AO World (AO.) spooks investors as it posts widening full losses and flags a possible UK consumer spending slowdown. That drags the share price down more than 6% to 135.7p, a long way off near 190p highs just before Christmas. UK challenger bank Shawbrook (SHAW) has rejected a raised and final £868m offer from private equity groups trying to take control of the ...