Embecta (NASDAQ:EMBC) Price Target Cut to $12.00 by Analysts at Mizuho

Embecta (NASDAQ:EMBC) had its target price decreased by Mizuho from $13.00 to $12.00 in a research report sent to investors on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Embecta from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. BTIG Research set a $25.00 target price on shares of Embecta and gave the company a “buy” rating in a report on Friday, May 23rd.

Embecta Stock Down 0.7%

EMBC stock opened at $9.78 on Wednesday. The stock has a market capitalization of $571.54 million, a P/E ratio of 10.87, a P/E/G ratio of 0.63 and a beta of 1.08. The firm has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $13.32. Embecta has a 52 week low of $9.20 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. Embecta’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 earnings per share. On average, analysts expect that Embecta will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date was Wednesday, May 28th. Embecta’s dividend payout ratio is presently 66.67%.

Insider Activity

In other Embecta news, Director David F. Melcher acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $10.60 per share, with a total value of $106,000.00. Following the completion of the transaction, the director owned 86,681 shares in the company, valued at $918,818.60. The trade was a 13.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Embecta

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in shares of Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock valued at $35,000 after buying an additional 1,497 shares during the last quarter. Banque Transatlantique SA raised its holdings in shares of Embecta by 879.1% in the first quarter. Banque Transatlantique SA now owns 3,701 shares of the company’s stock valued at $44,000 after buying an additional 3,323 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Embecta by 1,164.1% in the first quarter. Brooklyn Investment Group now owns 3,590 shares of the company’s stock valued at $46,000 after buying an additional 3,306 shares during the last quarter. Wealthquest Corp bought a new position in shares of Embecta in the first quarter valued at about $48,000. Finally, Picton Mahoney Asset Management bought a new position in shares of Embecta in the first quarter valued at about $50,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

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.