Embecta (NASDAQ:EMBC) Upgraded at BTIG Research

Embecta (NASDAQ:EMBC) was upgraded by equities researchers at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $26.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 39.04% from the company’s current price.

Embecta Price Performance

Embecta stock opened at $18.70 on Wednesday. The business has a 50 day simple moving average of $14.33 and a 200 day simple moving average of $14.04. The company has a market capitalization of $1.08 billion, a PE ratio of 15.58 and a beta of 0.97. Embecta has a one year low of $9.93 and a one year high of $20.80.

Hedge Funds Weigh In On Embecta

Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in Embecta by 1,135.6% in the first quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after purchasing an additional 37,009 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after buying an additional 187,916 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Embecta in the third quarter valued at about $594,000. Algert Global LLC lifted its position in Embecta by 281.8% during the 2nd quarter. Algert Global LLC now owns 153,953 shares of the company’s stock worth $1,924,000 after buying an additional 113,633 shares in the last quarter. Finally, AXA S.A. bought a new stake in Embecta during the 2nd quarter worth about $1,595,000. 93.83% of the stock is owned by 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.