Embecta (NASDAQ:EMBC) Rating Increased to Buy at BTIG Research

BTIG Research upgraded shares of Embecta (NASDAQ:EMBC) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat reports. BTIG Research currently has $26.00 price target on the stock.

Embecta Trading Up 10.1 %

Embecta stock opened at $20.59 on Wednesday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.16 and a beta of 0.97. The firm’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $14.07. Embecta has a 1-year low of $9.93 and a 1-year high of $20.80.

Embecta Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, December 6th. Embecta’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Embecta during the 3rd quarter valued at $30,000. Copeland Capital Management LLC purchased a new stake in shares of Embecta in the third quarter valued at about $43,000. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta during the second quarter valued at about $50,000. CWM LLC grew its position in Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after purchasing an additional 8,040 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Embecta in the 2nd quarter valued at about $140,000. 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.