Convatec Earnings: Year-to-Date Growth as Expected as Firm Renews Focus on Wound Care Clinical Data

Narrow-moat Convatec’s top-line growth through the first four months of 2024 held few surprises and puts the firm on track to meet our mid-single-digit growth estimate for the full year. We’re holding steady on our fair value estimate. Year to date, the firm has delivered 5% revenue growth across most product segments, consistent with our projections. Thanks to improvements made over the last several years, Convatec has begun to lean into its moaty businesses, ramping up both sales growth and margin gains.