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

Key Points

• Analysts are cautious: Embecta has a consensus “Reduce” rating, with one sell and four hold recommendations. The average one-year price target is $11.00.
• Quarterly results beat estimates: Earnings per share were $0.56 versus the $0.27 consensus, and revenue was $271.7 million versus estimates of $254.53 million. Revenue nevertheless declined 8.1% year over year.
• Shares opened at $6.19, while company insiders bought a total of 70,000 shares worth $334,200 over the past 90 days.

Shares of Embecta Corp. (NASDAQ:EMBC - Get Free Report) have been given a consensus rating of "Reduce" by the five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of research firms have issued reports on EMBC. Zacks Research upgraded 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 note on Monday, November 2nd.

Embecta Stock Performance

Shares of EMBC stock opened at $6.19 on Monday. The firm has a fifty day simple moving average of $5.86 and a two-hundred day simple moving average of $6.31. Embecta has a 12 month low of $2.77 and a 12 month high of $14.91. The firm has a market capitalization of $350.73 million, a PE ratio of 4.18 and a beta of 0.81.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.29. The firm had revenue of $271.70 million for 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%. The business's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. On average, equities analysts predict that Embecta will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Embecta news, insider Jeffrey Z. Mann bought 20,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the purchase, the insider directly owned 262,915 shares of the company's stock, valued at approximately $1,311,945.85. This represents a 8.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Milton Mayo Morris sold 6,293 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 53,828 shares of the company's stock, valued at approximately $316,508.64. This represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased 70,000 shares of company stock worth $334,200 in the last ninety days. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Embecta

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in Embecta by 47.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 367,585 shares of the company's stock worth $2,081,000 after acquiring an additional 118,022 shares during the period. Fifth Third Bancorp boosted its holdings in 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. Brighton Jones LLC bought a new position in Embecta in the 3rd quarter valued at $63,000. Chicago Partners Investment Group LLC purchased a new position in shares of Embecta during the 3rd quarter valued at $1,813,000. Finally, State of Wyoming grew its position in shares of Embecta by 108.1% during the 3rd quarter. State of Wyoming now owns 74,704 shares of the company's stock valued at $423,000 after purchasing an additional 38,798 shares in the last quarter. Institutional investors own 93.83% of the company's stock.

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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