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

Embecta (NASDAQ:EMBC - Get Free Report) had its price target cut by equities researchers at Mizuho from $13.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's target price would suggest a potential upside of 20.99% from the stock's current price.

Several other equities analysts also recently commented on the stock. Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. BTIG Research set a $25.00 price objective on shares of Embecta and gave the company a "buy" rating in a research note on Friday, May 23rd.

Embecta Price Performance

NASDAQ EMBC traded up $0.07 during trading on Wednesday, hitting $9.92. 112,919 shares of the company's stock traded hands, compared to its average volume of 502,771. The stock has a fifty day moving average of $10.50 and a two-hundred day moving average of $13.39. Embecta has a 12-month low of $9.20 and a 12-month high of $21.48. The firm has a market cap of $579.61 million, a P/E ratio of 11.03, a PEG ratio of 0.63 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $259.00 million during the quarter, compared to the consensus estimate of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, analysts expect that Embecta will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Embecta

In other Embecta news, Director David F. Melcher bought 10,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $10.60 per share, with a total value of $106,000.00. Following the completion of the purchase, the director owned 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Embecta

A number of institutional investors and hedge funds have recently made changes to their positions in EMBC. Victory Capital Management Inc. increased its stake in shares of Embecta by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock valued at $361,000 after purchasing an additional 923 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Embecta during the fourth quarter valued at approximately $6,598,000. Amundi increased its stake in shares of Embecta by 161.2% during the fourth quarter. Amundi now owns 32,287 shares of the company's stock valued at $655,000 after purchasing an additional 19,925 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Embecta during the fourth quarter valued at approximately $1,018,000. Finally, Natixis Advisors LLC increased its stake in shares of Embecta by 8.2% during the fourth quarter. Natixis Advisors LLC now owns 33,268 shares of the company's stock valued at $687,000 after purchasing an additional 2,533 shares in the last quarter. Institutional investors 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.