Embecta (NASDAQ:EMBC) PT Lowered to $13.00 at Morgan Stanley

Embecta (NASDAQ:EMBC) had its target price decreased by stock analysts at Morgan Stanley from $16.00 to $13.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 7.01% from the stock’s current price.

Embecta Stock Performance

NASDAQ EMBC traded down $0.18 during trading hours on Friday, reaching $13.98. 373,552 shares of the company’s stock were exchanged, compared to its average volume of 431,039. Embecta has a one year low of $9.93 and a one year high of $32.00. The company’s 50-day moving average is $12.05 and its two-hundred day moving average is $15.13. The company has a market capitalization of $804.95 million, a price-to-earnings ratio of 14.96 and a beta of 0.86.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.24. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The company had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $264.70 million. During the same quarter last year, the company posted $0.75 EPS. Embecta’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts predict that Embecta will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Embecta

In related news, Director David F. Melcher purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $16.25 per share, with a total value of $32,500.00. Following the acquisition, the director now owns 45,080 shares of the company’s stock, valued at $732,550. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Embecta

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Embecta by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,026,076 shares of the company’s stock valued at $133,004,000 after purchasing an additional 20,509 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Embecta by 26.7% during the fourth quarter. River Road Asset Management LLC now owns 3,310,749 shares of the company’s stock valued at $62,672,000 after purchasing an additional 697,274 shares in the last quarter. Yacktman Asset Management LP boosted its stake in shares of Embecta by 0.8% during the fourth quarter. Yacktman Asset Management LP now owns 2,671,237 shares of the company’s stock valued at $50,567,000 after purchasing an additional 20,296 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Embecta by 29.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,288,995 shares of the company’s stock valued at $24,401,000 after buying an additional 296,997 shares in the last quarter. Finally, Krensavage Asset Management LLC increased its holdings in shares of Embecta by 8.8% during the third quarter. Krensavage Asset Management LLC now owns 1,164,876 shares of the company’s stock valued at $17,531,000 after acquiring an additional 94,066 shares in the last quarter. 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.