Embecta Corp. (NASDAQ:EMBC) Stock Has Average Target Price of $11.00

Embecta Corp. (NASDAQ:EMBC) has earned a consensus rating of “Reduce” from the five research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.00.

EMBC has been the subject of a number of research analyst reports. Zacks Research raised shares of Embecta from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Weiss Ratings upgraded Embecta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 2nd.

Embecta Price Performance

Shares of NASDAQ EMBC opened at $6.19 on Monday. The firm has a market capitalization of $350.73 million, a P/E ratio of 4.18 and a beta of 0.81. The stock’s 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $6.31. Embecta has a twelve month low of $2.77 and a twelve month high of $14.91.

Embecta (NASDAQ:EMBC) last announced its earnings results on Friday, August 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.29. The business had revenue of $271.70 million during the quarter, compared to analyst estimates of $254.53 million. Embecta had a net margin of 8.59% and a negative return on equity of 19.25%. Embecta’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, research analysts anticipate that Embecta will post 1.84 EPS for the current fiscal year.

Insider Buying and Selling at Embecta

In other Embecta news, Director Milton Mayo Morris sold 6,293 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $5.88, for a total value of $37,002.84. Following the completion of the sale, the director directly owned 53,828 shares of the company’s stock, valued at $316,508.64. The trade was a 10.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Z. Mann acquired 20,000 shares of Embecta stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $4.99 per share, for a total transaction of $99,800.00. Following the completion of the purchase, the insider directly owned 262,915 shares of the company’s stock, valued at approximately $1,311,945.85. The trade was a 8.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 70,000 shares of company stock worth $334,200 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Embecta

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Krensavage Asset Management LLC boosted its holdings in Embecta by 54.4% during the 2nd quarter. Krensavage Asset Management LLC now owns 1,135,340 shares of the company’s stock valued at $3,701,000 after acquiring an additional 400,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Embecta by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 934,210 shares of the company’s stock worth $8,258,000 after purchasing an additional 67,374 shares during the period. Bank of New York Mellon Corp increased its stake in Embecta by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 823,787 shares of the company’s stock worth $7,282,000 after purchasing an additional 10,468 shares during the period. Walleye Capital LLC bought a new stake in Embecta in the first quarter valued at approximately $7,013,000. Finally, CWA Asset Management Group LLC lifted its position in Embecta by 43.4% in the third quarter. CWA Asset Management Group LLC now owns 537,838 shares of the company’s stock valued at $3,044,000 after purchasing an additional 162,891 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Company Profile

Embecta Corp. (NASDAQ: EMBC) is a global diabetes-care company that develops, manufactures and sells products used to administer insulin and monitor blood glucose. Its portfolio includes pen needles, insulin syringes, safety needles and syringes, lancets, and other diabetes-management products designed for people with diabetes and the health care professionals who support them.

The company also offers digital and connected solutions intended to support diabetes management and improve the delivery of care.