Embecta (NASDAQ:EMBC) Upgraded by Mizuho to “Hold” Rating

Mizuho upgraded shares of Embecta (NASDAQ:EMBC) to a hold rating in a report released on Wednesday,Zacks.com reports.

Embecta Price Performance

Embecta stock traded down $0.14 during midday trading on Wednesday, hitting $11.87. 14,472 shares of the company were exchanged, compared to its average volume of 451,547. The company has a market cap of $690.05 million, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.78 and a beta of 1.23. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The company’s fifty day moving average price is $13.85 and its 200-day moving average price is $16.00.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. On average, analysts expect that Embecta will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.05%. Embecta’s dividend payout ratio is currently 60.00%.

Insiders Place Their Bets

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Embecta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC acquired a new position in shares of Embecta during the third quarter valued at $438,000. Barclays PLC lifted its holdings in shares of Embecta by 41.1% during the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after purchasing an additional 28,523 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after purchasing an additional 107,567 shares during the period. Geode Capital Management LLC increased its stake in Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after purchasing an additional 45,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Embecta during the 4th quarter worth about $209,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.