Embecta (NASDAQ:EMBC) Now Covered by Mizuho

Equities research analysts at Mizuho began coverage on shares of Embecta (NASDAQ:EMBC) in a research report issued on Thursday,Benzinga reports. The brokerage set a “neutral” rating and a $15.00 price target on the stock. Mizuho’s price objective indicates a potential upside of 23.36% from the stock’s current price.

Embecta Stock Performance

Shares of NASDAQ:EMBC traded down $0.49 during trading hours on Thursday, hitting $12.16. The stock had a trading volume of 41,048 shares, compared to its average volume of 451,648. The stock’s fifty day simple moving average is $13.97 and its 200 day simple moving average is $16.02. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The firm has a market capitalization of $706.91 million, a price-to-earnings ratio of 12.16, a PEG ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, research analysts anticipate that Embecta will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, Director Milton Mayo Morris sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the transaction, the director now owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Embecta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC acquired a new stake in shares of Embecta during the 3rd quarter valued at $438,000. Barclays PLC boosted its stake in shares of Embecta by 41.1% during the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after buying an additional 28,523 shares during the period. Jane Street Group LLC boosted its stake in shares of Embecta by 156.1% during the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after buying an additional 107,567 shares during the period. Geode Capital Management LLC boosted its stake in shares of Embecta by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after buying an additional 45,228 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Embecta during the 4th quarter valued at $209,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Company Profile

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.