Embecta (NASDAQ:EMBC) Raised to “Buy” at BTIG Research

BTIG Research upgraded shares of Embecta (NASDAQ:EMBC) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat Ratings reports. BTIG Research currently has $26.00 target price on the stock.

Embecta Stock Performance

Embecta stock opened at $20.83 on Wednesday. The stock has a market cap of $1.20 billion, a PE ratio of 15.43 and a beta of 0.97. The stock has a fifty day moving average of $14.68 and a 200 day moving average of $14.20. Embecta has a one year low of $9.93 and a one year high of $20.86.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.88%. Embecta’s dividend payout ratio is currently 44.44%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EMBC. Russell Investments Group Ltd. raised its holdings in Embecta by 3.2% during the first quarter. Russell Investments Group Ltd. now owns 59,215 shares of the company’s stock valued at $786,000 after acquiring an additional 1,827 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Embecta by 14.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,863 shares of the company’s stock valued at $250,000 after buying an additional 2,370 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after buying an additional 187,916 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Embecta by 1,135.6% during the first quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after acquiring an additional 37,009 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its position in shares of Embecta by 13.3% during the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

About Embecta

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.