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

Embecta (NASDAQ:EMBC - Get Free Report) had its target price lowered by equities research analysts at Mizuho from $15.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price objective indicates a potential upside of 22.70% from the stock's current price.

Separately, Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a research note on Thursday.

Embecta Price Performance

Shares of NASDAQ:EMBC traded up $0.09 during trading hours on Friday, hitting $10.60. 389,124 shares of the company's stock traded hands, compared to its average volume of 460,581. The business has a fifty day moving average price of $12.18 and a 200-day moving average price of $15.60. Embecta has a 1 year low of $10.27 and a 1 year high of $21.48. The firm has a market capitalization of $619.20 million, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24.

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. As a group, equities analysts predict that Embecta will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Embecta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 774 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Embecta by 796.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after acquiring an additional 1,497 shares during the last quarter. Banque Transatlantique SA boosted its stake in shares of Embecta by 879.1% during the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock worth $44,000 after purchasing an additional 3,323 shares during the last quarter. Brooklyn Investment Group boosted its position in Embecta by 1,164.1% during the first quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock worth $46,000 after acquiring an additional 3,306 shares during the last quarter. Finally, Wealthquest Corp purchased a new stake in shares of Embecta in the first quarter valued at $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.

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