Mizuho Begins Coverage on Embecta (NASDAQ:EMBC)

Equities research analysts at Mizuho began coverage on shares of Embecta (NASDAQ:EMBC - Get Free Report) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a "neutral" rating and a $15.00 price target on the stock. Mizuho's target price would indicate a potential upside of 25.42% from the stock's previous close.

Embecta Price Performance

EMBC traded up $0.06 on Thursday, hitting $11.96. 194,475 shares of the stock were exchanged, compared to its average volume of 454,875. The firm has a market capitalization of $695.28 million, a price-to-earnings ratio of 11.96, a PEG ratio of 0.78 and a beta of 1.23. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48. The business has a 50-day moving average of $13.60 and a two-hundred day moving average of $15.98.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts expect that Embecta will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the sale, the director now owns 36,133 shares of the company's stock, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Embecta

A number of hedge funds and other institutional investors have recently bought and sold shares of EMBC. Vanguard Group Inc. raised its position in Embecta by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock valued at $145,076,000 after purchasing an additional 28,031 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in Embecta by 19.8% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock worth $67,537,000 after acquiring an additional 540,192 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Embecta by 8.0% during the fourth quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock worth $67,359,000 after purchasing an additional 242,668 shares during the period. Geode Capital Management LLC increased its holdings in Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company's stock valued at $19,564,000 after purchasing an additional 45,228 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Embecta during the 4th quarter worth $15,270,000. Institutional investors 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.