Embecta (NASDAQ:EMBC) Rating Increased to Hold at Mizuho

Embecta (NASDAQ:EMBC) was upgraded by investment analysts at Mizuho to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Embecta Stock Down 0.9 %

NASDAQ:EMBC traded down $0.11 on Wednesday, reaching $11.91. The stock had a trading volume of 10,558 shares, compared to its average volume of 451,509. The company has a market capitalization of $692.09 million, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 0.78 and a beta of 1.23. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The stock has a fifty day moving average price of $13.85 and a 200-day moving average price of $16.00.

Embecta (NASDAQ:EMBC) last announced its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. Sell-side analysts predict that Embecta will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Embecta

Several hedge funds have recently added to or reduced their stakes in EMBC. Smartleaf Asset Management LLC lifted its position in Embecta by 175.1% during the 4th 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. Quarry LP bought a new stake in shares of Embecta during the third quarter worth approximately $30,000. Sterling Capital Management LLC lifted its holdings 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 period. Ameriflex Group Inc. bought a new position in Embecta in the fourth quarter valued at approximately $53,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in Embecta during the 4th quarter worth $77,000. 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.