Bank of America Cuts Embecta (NASDAQ:EMBC) Price Target to $3.00

Embecta (NASDAQ:EMBC) had its price target lowered by research analysts at Bank of America from $11.00 to $3.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective would indicate a potential downside of 0.50% from the stock’s previous close.

Several other equities analysts also recently issued reports on EMBC. Weiss Ratings downgraded shares of Embecta from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Mizuho decreased their price objective on shares of Embecta from $12.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Embecta from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research downgraded Embecta from a “buy” rating to a “neutral” rating in a report on Tuesday, May 5th. Finally, Zacks Research downgraded Embecta from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Sell” and an average price target of $11.00.

Embecta Stock Down 4.0%

EMBC traded down $0.13 on Monday, reaching $3.02. The company’s stock had a trading volume of 2,030,411 shares, compared to its average volume of 1,334,958. The stock has a 50 day moving average of $8.04 and a two-hundred day moving average of $10.60. The company has a market capitalization of $178.88 million, a price-to-earnings ratio of 1.59 and a beta of 1.09. Embecta has a fifty-two week low of $2.99 and a fifty-two week high of $15.55.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). The business had revenue of $221.80 million during the quarter, compared to analyst estimates of $235.67 million. Embecta had a net margin of 10.73% and a negative return on equity of 23.96%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Embecta has set its FY 2026 guidance at 1.550-1.75 EPS. As a group, analysts anticipate that Embecta will post 1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Embecta

Several hedge funds have recently made changes to their positions in EMBC. Larson Financial Group LLC boosted its stake in shares of Embecta by 368.6% during the third quarter. Larson Financial Group LLC now owns 2,001 shares of the company’s stock worth $28,000 after buying an additional 1,574 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Embecta by 542.6% during the second quarter. Tower Research Capital LLC TRC now owns 7,371 shares of the company’s stock worth $71,000 after purchasing an additional 6,224 shares during the period. Wexford Capital LP acquired a new stake in shares of Embecta during the third quarter worth $94,000. Humankind Investments LLC acquired a new stake in shares of Embecta during the second quarter worth $111,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Embecta during the third quarter worth $115,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Company Profile

Embecta Corp (NASDAQ: EMBC) is a pure-play diabetes care company that was spun off from Becton, Dickinson and Company on July 1, 2021. Headquartered in Franklin Lakes, New Jersey, Embecta focuses exclusively on the development, manufacturing and commercialization of products that enable insulin delivery and blood glucose monitoring for people with diabetes.

The company’s product portfolio includes insulin infusion sets, durable and patch pumps, pen needles, infusion tubing, blood glucose test strips, lancets and lancing devices.