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Needs a strong and experienced permanent CEO appointed and quickly. Also need to replace their US President. Then drive this baby for several quarters without any bad surprises and with some steady growth the shares will recover some of their lustre.....IMO
Dyor and GLA
Whiteshark, i sold in the 160s. Convatek was always about growth. That's what took it to the 300s. I think max value now will be low 200s. I'd probably still buy in the 140s again, as I know the bottom is tested several times before it breaks higher. It may dip to 130s, but even I think, only briefly.
Typo the Times guy was Robert Lea.
Sorry dog jumped on the keyboard. Well I looked for articles as suggested on here and couldn't find many. On 16th October I found one by Robert Lee of the Times headed up "Convatec needs more than a bandage" which I didn't really agree with having read the company's own info. The crowds dispersed and it was just a case of waiting for the Robert E Lee to set sail as the say. Happy Hallow'een I am going to look out some bandages and see if I can scare the neighbours.
Well I looked and couldn't find many
King ran, it was only a week ago you bought at 148 and you said you were happy..what bit of info did you come across that changed your mind. I'm sure you didn't buy at 148 in the hope it goes to 130.?
I wouldn't hold you breath on that prediction
This stock was always valued as one with growth potential. No longer ! Think this will go lower, into the 130s
Surprised there is no chat on here following the HUGE after hours buys...very quiet!!
Its still a solid company, results not great (same thing happened last year and SP recovered), and a big customer changed their supply terms - no biggy.
I suspect 6 months will see this returning to the low - mis £2's.
Ah I didn’t see that. Not surprising tbh as the CEO “retirement”, one supplier changes their inventory policy and suddenly we have a big profit downgrade plus the resignation of the head of the US operation all these happened within a few days of each other and I assume that raises a bunch of nagging questions in investor’s minds, increasing the risk of this investment.
New CEO and New US head required and a couple of solid quarterly results with no “surprises” such as 1.Moving a factory or 2. Customer inventory change :( then they will get back on track. Hopefully. DYOR.
Yes, all that is good news, some huge sales also shown after hours though
Blackrock buy more
Director buys shares
Wound care product receives FDA approval for US sales.
Shares fall?
Hmm sentiment will take a while to improve I suppose...cracking company though.
As expected gone very quiet on here after all the brouhaha over the past couple of days but there's a holdings rns to mull over notified today.
Does anyone know why he left the company recently?
Got a chance for 148p today. Took it. Happy with current sp
White Shark do you have any links to the most comprehensive of any of these articles you refer to. I read a not so flattering article by a Times and FT journalist today with a daft heading about bandages so wonder if your read that and thought it a pretty uneducated piece. Not sure if Numis are the house broker but I know they are right in saying that the chronic care business is showing continued steady growth. It's the nature of these bbs unfortunately for folk to churn out hackneyed one liners about mugs and dead cat bounces or even worse screeds of stuff with no decent facts or analysis whatever. Long journey ahead of me tomorrow so thanks in advance if I can't respond for a wee while.
This is far from a dead cat , although it has bounced... read the "educated" financial press on this company, long term its a solid investment, particularly now!
In the mean time, its a traders paradise, 138 yesterday , over 160 today, then finishing at 157.
This has got legs over the next few days, will be in the 180's next week in my opinion.
"Dead Cat" & "Dead Cat Bounce" - uneducated comment
Even the Non exec director is having a small slice.
I like how he came back for some more after as well haha.
Finance Director yesterday and Senior Non Exec today - they are certainly very confident
Director buy. Good stuff.
Said a few years ago “..we are shopping Convatec and have found significant interest at attractive valuation levels.”
Bristol Myers originally piled traditional wound care and osotmy etc into their Convatec division as they had been for years low growth, commodity type businesses. Then sold out to PE st a great price.
Three final comments from me then I’ll shut up: 1. Convatec should by now be able to manufacture and sell the “commodity” type products without any surprises, 2. They do have some higher growth advanced wound care and delivery products (but same comment as 1 apply), 3. If they can actually run this properly it should be at a much higher share price and paying a decent dividend. Perhaps the J&J guy can do that. GLA.
or a persistent rise back to a level that values the business appropriately......
Calm down mate...