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

Embecta (NASDAQ:EMBC) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $26.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 26.27% from the company’s previous close.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $20.59 on Wednesday. The company’s 50 day moving average price is $14.48 and its 200-day moving average price is $14.11. Embecta has a 52-week low of $9.93 and a 52-week high of $20.80. The company has a market capitalization of $1.19 billion, a P/E ratio of 17.16 and a beta of 0.97.

Institutional Trading of Embecta

Several large investors have recently modified their holdings of the stock. Quarry LP bought a new position in Embecta during the third quarter worth $30,000. Copeland Capital Management LLC acquired a new position in shares of Embecta during the third quarter valued at about $43,000. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta during the 2nd quarter worth about $50,000. CWM LLC grew its stake in shares of Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after buying an additional 8,040 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Embecta in the 2nd quarter valued at about $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.