Director dealings: Another Convatec director ups stake following profit warning

16th Oct 2018 16:25

(Sharecast News) - Convatec non-executive director Jesper Ovesen purchased 40,000 shares in the FTSE 250-listed medical products and technologies company on Tuesday.Ovesen, the former executive chair of Nokia Siemens Networks, acquired the shares at an average price of 141.80p each, for a total value of £56,720.ConvaTec revised its guidance for both full-year organic revenue growth and adjusted EBIT margins on Monday.The London-based firm said that revised guidance was driven primarily by a change in inventory policy by the biggest customer in its Infusion Devices franchise, which was expected to have a material negative impact on revenues in the fourth quarter of between $18m and $23m, and to a lesser extent due to "challenging" market dynamics in specific markets in Advanced Wound Care.As a result, the group now expected full-year organic revenue growth to be between flat to up by 1.0%, versus a prior range for growth of 2.5% to 3.0%.ConvaTec also announced on Monday that its chief executive officer Paul Moraviec was leaving amid the sour news for investors.JPMorgan downgraded Convatec to 'neutral' from 'overweight' and cut the price target to 183p from 280p on Tuesday following the profit warning a day earlier and its announcement of Moraviec's departure."A second profit warning in 12 months, uncertainty around 2019 guidance, as well as further management change is likely to further dent investor sentiment, with limited catalysts in our view in the near to medium term," said JPM.As of 1625 BST, Convatec shares were 4.83% higher at 157.25p.Top Director BuysConvatec Group (CTEC)Director name: Ovesen,JesperAmount purchased: 40,000 @ 141.80pValue: £56,720.00Nanoco Group (NANO)Director name: Tenner,BrianAmount purchased: 158,543 @ 32.00pValue: £50,733.76Wandisco (WAND)Director name: Richards,David JamesAmount purchased: 10,000 @ 506.00pValue: £50,600.00Harworth Group (HWG)Director name: Michaelson,OwenAmount purchased: 40,530 @ 122.00pValue: £49,446.60Surgical Innovations Group (SUN)Director name: Rogers,NigelAmount purchased: 750,000 @ 2.95pValue: £22,125.00Convatec Group (CTEC)Director name: Ovesen,JesperAmount purchased: 5,000 @ 141.30pValue: £7,065.00Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 5 @ 39,375.40pValue: £1,968.77Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 5 @ 39,375.40pValue: £1,968.77Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 5 @ 39,350.00pValue: £1,967.50Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 4 @ 39,350.00pValue: £1,574.00Maintel Holdings (MAI)Director name: McCaffery,A JAmount purchased: 229 @ 600.00pValue: £1,374.00Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 2 @ 39,750.00pValue: £795.00Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 2 @ 39,750.00pValue: £795.00Maintel Holdings (MAI)Director name: Buxton,EdwardAmount purchased: 132 @ 600.00pValue: £792.00Personal Assets Trust (PNL)Director name: Rushbrook ,Frank Amount purchased: 2 @ 39,375.40pValue: £787.51Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 2 @ 39,375.40pValue: £787.51Maintel Holdings (MAI)Director name: Stevens,KevinAmount purchased: 75 @ 600.00pValue: £450.00Aberdeen Diversified Income And Growth Trust (ADIG)Director name: Ingram,KevinAmount purchased: 350 @ 124.37pValue: £435.31Mortgage Advice Bureau (holdings) (MAB1)Director name: Tilley,LucyAmount purchased: 56 @ 715.00pValue: £400.40Personal Assets Trust (PNL)Director name: Rushbrook ,Frank Amount purchased: 1 @ 39,375.40pValue: £393.75Personal Assets Trust (PNL)Director name: Joseph Neilly,GordonAmount purchased: 1 @ 39,375.40pValue: £393.75Sthree (STHR)Director name: Elden,GaryAmount purchased: 52 @ 357.87pValue: £186.09Sthree (STHR)Director name: Smith,AlexAmount purchased: 52 @ 357.87pValue: £186.09Aberdeen Diversified Income And Growth Trust (ADIG)Director name: Challenor,TomAmount purchased: 139 @ 124.37pValue: £172.88Provident Financial (PFG)Director name: Mullen,Ken Amount purchased: 28 @ 544.00pValue: £152.32Saga (SAGA)Director name: Batchelor,LanceAmount purchased: 112 @ 134.70pValue: £150.86Kingfisher (KGF)Director name: Witts,KarenAmount purchased: 60 @ 251.20pValue: £150.72Superdry (SDRY)Director name: Callander,Simon Amount purchased: 15 @ 1,003.00pValue: £150.45Superdry (SDRY)Director name: Sutherland ,EuanAmount purchased: 15 @ 1,003.00pValue: £150.45Superdry (SDRY)Director name: Barker,Ed Amount purchased: 15 @ 1,003.00pValue: £150.45Superdry (SDRY)Director name: Cartwright,Andrea Amount purchased: 15 @ 1,003.00pValue: £150.45Sig (SHI)Director name: Maddock,NickAmount purchased: 130 @ 115.22pValue: £149.79Sig (SHI)Director name: Monro,RichardAmount purchased: 130 @ 115.22pValue: £149.79Share Plc (SHRE)Director name: Stone,Richard WilliamAmount purchased: 584 @ 25.25pValue: £147.46Share Plc (SHRE)Director name: Ecsery,Francesca Eva Amount purchased: 584 @ 25.25pValue: £147.46Share Plc (SHRE)Director name: Thomas ,Gareth Amount purchased: 584 @ 25.25pValue: £147.46Share Plc (SHRE)Director name: Tolkien,RichardAmount purchased: 584 @ 25.25pValue: £147.46Share Plc (SHRE)Director name: Birkett,Mike Amount purchased: 584 @ 25.25pValue: £147.46Provident Financial (PFG)Director name: Fisher,Andrew CAmount purchased: 27 @ 544.00pValue: £146.88Emis Group (EMIS)Director name: Southby,PeterAmount purchased: 15 @ 960.00pValue: £144.00Britvic (BVIC)Director name: Litherland,SimonAmount purchased: 18 @ 745.00pValue: £134.10Britvic (BVIC)Director name: Barwell,Matt Amount purchased: 16 @ 745.00pValue: £119.20Maintel Holdings (MAI)Director name: Legg,Stuart Amount purchased: 13 @ 600.00pValue: £78.00Maintel Holdings (MAI)Director name: Townsend CA,MarkAmount purchased: 11 @ 600.00pValue: £66.00Top Director SellsSurgical Innovations Group (SUN)Director name: Rogers,NigelAmount sold: 416,830 @ 2.95pValue: £12,296.49