Embecta (NASDAQ:EMBC) Upgraded to “Buy” at BTIG Research

BTIG Research upgraded shares of Embecta (NASDAQ:EMBC) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat Ratings reports. BTIG Research currently has $26.00 price objective on the stock.

Embecta Price Performance

EMBC opened at $20.83 on Wednesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 15.43 and a beta of 0.97. Embecta has a one year low of $9.93 and a one year high of $20.86. The business has a 50 day simple moving average of $14.68 and a two-hundred day simple moving average of $14.20.

Embecta Announces Dividend

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

Institutional Trading of Embecta

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in shares of Embecta by 11.3% in the 3rd 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 last quarter. The Manufacturers Life Insurance Company raised its position in shares of Embecta by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after purchasing an additional 1,025 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Embecta by 3.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock worth $452,000 after purchasing an additional 1,179 shares in the last quarter. Bayesian Capital Management LP grew its position in Embecta by 13.3% during the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Ceera Investments LLC grew its position in Embecta by 0.9% during the 2nd quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after purchasing an additional 1,514 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other 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.