Director dealings: Convatec CFO ups stake following profit warning

15th Oct 2018 16:36

(Sharecast News) - Convatec chief financial officer Frank Schulkes purchased 65,000 ordinary shares in the FTSE 250-listed medical products and technologies company on Monday.Schulkes, who took over the role of CFO back in October 2017, acquired the shares at an average prie of 150.42p each, for a total value of £97,773.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.As of 1635 BST, Convatec shares had tumbled 33.7% to 148.65p.Top Director BuysConvatec Group (CTEC)Director name: Schulkes,Frank Amount purchased: 65,000 @ 150.42pValue: £97,773.00Ite Group (ITE)Director name: Shashoua,MarkAmount purchased: 50,000 @ 62.30pValue: £31,150.00Jpmorgan Asian Investment Trust (JAI)Director name: Aitken,JuneAmount purchased: 10,000 @ 311.00pValue: £31,100.00Yougov (YOU)Director name: Martin,AshleyAmount purchased: 5,617 @ 445.00pValue: £24,995.65Old Mutual Limited Npv (di) (OMU)Director name: Moyo,PeterAmount purchased: 21,000 @ R20.89Value: R24,036.49Ite Group (ITE)Director name: Shashoua,MarkAmount purchased: 30,000 @ 63.00pValue: £18,900.00Jkx Oil & Gas (JKX)Director name: Bukovics,ChristianAmount purchased: 30,000 @ 41.40pValue: £12,420.00Audioboom Group (BOOM)Director name: Tobin,MichaelAmount purchased: 188,508 @ 1.38pValue: £2,601.41Audioboom Group (BOOM)Director name: Tobin,MichaelAmount purchased: 185,755 @ 1.38pValue: £2,563.42Jardine Lloyd Thompson Group (JLT)Director name: Burke,Dominic JamesAmount purchased: 7 @ 1,875.00pValue: £131.25Top Director SellsRiver And Mercantile Group (RIV)Director name: Rutt,ChrisAmount sold: 8,524 @ 322.29pValue: £27,472.00