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

Embecta (NASDAQ:EMBC) was upgraded by investment analysts at Mizuho to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Embecta Stock Performance

Shares of Embecta stock traded down $0.11 on Wednesday, reaching $11.91. The stock had a trading volume of 10,558 shares, compared to its average volume of 451,509. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The business’s 50-day moving average price is $13.85 and its two-hundred day moving average price is $16.00. The stock has a market cap of $692.09 million, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Embecta will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the 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 sale, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Embecta

Large investors have recently added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC bought a new stake in Embecta in the third quarter valued at about $438,000. Barclays PLC boosted its holdings in 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 in the last quarter. Jane Street Group LLC grew its stake 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 raised its holdings in shares of 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 buying an additional 45,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Embecta in the 4th quarter worth approximately $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.