Shares of Embecta Corp. (NASDAQ:EMBC – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $6.37 and traded as high as $6.79. Embecta shares last traded at $6.52, with a volume of 1,153,748 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on EMBC shares. Zacks Research raised shares of Embecta from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings raised Embecta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $11.00.
Check Out Our Latest Report on Embecta
Embecta Price Performance
The firm has a 50 day moving average of $5.86 and a 200-day moving average of $6.31. The stock has a market capitalization of $350.73 million, a P/E ratio of 3.03 and a beta of 0.81.
Embecta (NASDAQ:EMBC – Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.27 by $0.29. Embecta had a negative return on equity of 19.25% and a net margin of 8.59%. The firm had revenue of $271.70 million during the quarter, compared to analysts’ expectations of $254.53 million. During the same period last year, the business earned $1.12 earnings per share. Embecta’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, equities analysts expect that Embecta Corp. will post 1.84 earnings per share for the current year.
Insider Activity
In other news, CFO Jacob Elguicze purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $4.67 per share, with a total value of $93,400.00. Following the acquisition, the chief financial officer directly owned 309,139 shares of the company’s stock, valued at approximately $1,443,679.13. This represents a 6.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Milton Mayo Morris sold 6,293 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $5.88, for a total transaction of $37,002.84. Following the completion of the sale, the director owned 53,828 shares of the company’s stock, valued at approximately $316,508.64. This represents a 10.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 70,000 shares of company stock valued at $334,200. 1.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On Embecta
Several large investors have recently modified their holdings of EMBC. One Wealth Advisors LLC bought a new stake in Embecta in the 2nd quarter valued at $33,000. Fifth Third Bancorp raised its stake in shares of Embecta by 44.2% in the 3rd quarter. Fifth Third Bancorp now owns 7,061 shares of the company’s stock valued at $40,000 after purchasing an additional 2,163 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Embecta by 101.5% in the third quarter. GAMMA Investing LLC now owns 10,898 shares of the company’s stock valued at $62,000 after purchasing an additional 5,490 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Embecta during the third quarter worth about $62,000. Finally, Brighton Jones LLC bought a new position in shares of Embecta during the third quarter worth about $63,000. 93.83% of the stock is currently owned by institutional investors.
About Embecta
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.
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