Mizuho Lowers Embecta (NASDAQ:EMBC) Price Target to $12.00

Embecta (NASDAQ:EMBC) had its price objective lowered by investment analysts at Mizuho from $13.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price points to a potential upside of 21.83% from the stock’s current price.

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

Embecta Price Performance

EMBC stock opened at $9.85 on Wednesday. Embecta has a 12 month low of $9.20 and a 12 month high of $21.48. The company has a market cap of $575.63 million, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The company has a fifty day moving average price of $10.50 and a 200 day moving average price of $13.39.

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

Insider Activity

In other news, Director David F. Melcher bought 10,000 shares of Embecta stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the acquisition, the director directly owned 86,681 shares in the company, valued at approximately $918,818.60. This represents a 13.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Embecta by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company’s stock valued at $145,076,000 after buying an additional 28,031 shares during the last quarter. American Century Companies Inc. lifted its holdings in Embecta by 16.9% in the first quarter. American Century Companies Inc. now owns 3,813,411 shares of the company’s stock worth $48,621,000 after purchasing an additional 551,477 shares during the period. Deerfield Management Company L.P. Series C increased its stake in Embecta by 19.8% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company’s stock valued at $67,537,000 after buying an additional 540,192 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Embecta during the 4th quarter worth about $15,270,000. Finally, Northern Trust Corp lifted its stake in shares of Embecta by 10.5% in the 4th quarter. Northern Trust Corp now owns 700,972 shares of the company’s stock worth $14,475,000 after acquiring an additional 66,367 shares during the period. 93.83% of the stock is currently owned by institutional investors.

Embecta Company Profile

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.