ConvaTec Group (CTEC)

UK stocks retreated on Thursday with the FSTE 100 index down 33 points or 0.5% to 7,171 led by Metals, Mining and Oil Services stocks. Mining stocks came under pressure after analysts at Liberum cut their forecast for iron ore prices and downgraded Anglo American (AAL), BHP (BHP), Ferrexpo (FXPO) and Rio Tinto (RIO) to Sell. Also weighing on the index was copper miner Antofagasta ...

London’s FTSE 100 was on the front foot on Monday, the blue chip benchmark advancing 67 points higher to 7,184.2 early on, consolidating gains from Friday and building on a positive session in Asia with investors braced for a wave of monetary and fiscal stimulus. Despite ongoing warnings about the impact of a no-deal Brexit, investors focused on President Trump’s reassurances that ...

Global medical products and wound care company ConvaTec (CTEC) said that it saw an improving revenue trend in the second quarter with growth of 2.1% and confirmed it was on track to meet full year guidance, giving the shares a 15% boost to 180p. For the first half to 30 June, the company’s reported revenues of $889m were 3.5% below last year, but excluding a one-off provision and adverse ...

Many investors like to keep up to date with share deals of company directors. It can be a useful barometer of a company’s health on the basis that if those closest to the operating coalface are putting money in (or talking cash out), perhaps other investors should think about doing likewise. It is not a perfect science by any means but when an insider purchases or sells a significant amount ...

Shares in bonding solutions and adhesives group Scapa (AIM:SCPA) are trading down 45% to 162p, following an announcement that the company has received notice from ConvaTec (CTEC) terminating a ‘Material’ 5-year Master Supply Agreement (MSA) with Scapa Tapes North America. SHOOT FIRST, AIM LATER ConvaTec has filed a legal action in a federal court in New Jersey, effectively asking ...

London’s FTSE 100 weakens a further 73 points to 7,089 on Monday as the exchange of trade threats between Washington and Beijing stirs fears of a recession and German chipmaker Infineon’s deal to buy US peer Cypress Semiconductors weighs on the technology sector. Construction and infrastructure firm Kier (KIE) crumbles 29.4% to 196.4p on a warning full year 2019 underlying operating profit ...

Global Medical Products group Convatec (CTEC) reported flat organic Q1 revenues as it continued to see a drag from its legacy Advanced Wound Care (AWC) portfolio, offsetting signs of recovery in other parts of the business. Shares fell 3% initially but have recovered to positive territory, up 1% to 137p. Read more on ConvaTec HERE A weak performance from skincare and continuing ...

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 ...