Embecta (NASDAQ:EMBC) Upgraded at BTIG Research

BTIG Research upgraded shares of Embecta (NASDAQ:EMBC) from a neutral rating to a buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have $26.00 target price on the stock.

Embecta Stock Up 1.2 %

EMBC stock opened at $20.83 on Wednesday. Embecta has a 52-week low of $9.93 and a 52-week high of $20.86. The business has a fifty day moving average of $14.68 and a two-hundred day moving average of $14.20. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 15.43 and a beta of 0.97.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. Embecta’s payout ratio is currently 44.44%.

Institutional Trading of Embecta

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Embecta by 11.3% during the third quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after buying an additional 1,023 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Embecta by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after acquiring an additional 1,025 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Embecta by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after acquiring an additional 1,179 shares during the period. Bayesian Capital Management LP grew its position in Embecta by 13.3% in the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Ceera Investments LLC increased its stake in Embecta by 0.9% during the second quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock worth $2,229,000 after purchasing an additional 1,514 shares during the period. Hedge funds and other 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.