Mizuho Lowers Embecta (NASDAQ:EMBC) Price Target to $13.00

Embecta (NASDAQ:EMBC - Free Report) had its price target reduced by Mizuho from $15.00 to $13.00 in a research note published on Friday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Separately, Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Embecta Stock Performance

Embecta stock traded down $0.71 during mid-day trading on Friday, reaching $10.55. 556,167 shares of the company were exchanged, compared to its average volume of 464,799. The firm has a market cap of $616.57 million, a P/E ratio of 10.55, a PEG ratio of 0.78 and a beta of 1.24. The business has a fifty day moving average of $11.98 and a 200 day moving average of $15.46. Embecta has a 12-month low of $10.27 and a 12-month high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. The company had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Sell-side analysts predict that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is presently 66.67%.

Insider Activity

In related news, Director David F. Melcher bought 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the purchase, the director now directly owns 86,681 shares of the company's stock, valued at approximately $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Embecta

A number of large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 774 shares during the period. Sterling Capital Management LLC boosted its position in 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 increased its holdings in Embecta by 879.1% in the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock worth $44,000 after buying an additional 3,323 shares during the period. Brooklyn Investment Group raised its position in Embecta by 1,164.1% during the 1st quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock worth $46,000 after buying an additional 3,306 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in Embecta during the 1st quarter worth approximately $48,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

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.