Morgan Stanley Upgrades Embecta (NASDAQ:EMBC) to Equal Weight

Embecta (NASDAQ:EMBC) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $20.00 target price on the stock, up from their previous target price of $13.00. Morgan Stanley’s price target suggests a potential downside of 2.10% from the company’s current price.

Separately, BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th.

Embecta Trading Down 0.9 %

Embecta stock opened at $20.43 on Monday. The stock has a 50-day moving average price of $14.90 and a two-hundred day moving average price of $14.29. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48. The company has a market capitalization of $1.18 billion, a PE ratio of 15.13, a P/E/G ratio of 1.14 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business had revenue of $286.10 million during the quarter, compared to analyst estimates of $276.97 million. During the same quarter last year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts predict that Embecta will post 2.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Embecta

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Embecta during the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC bought a new position in shares of Embecta in the 3rd quarter worth $43,000. Iat Reinsurance Co. LTD. acquired a new stake in Embecta in the 2nd quarter valued at $50,000. CWM LLC raised its holdings in Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after buying an additional 8,040 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Embecta in the second quarter valued at $140,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

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.