Embecta (NASDAQ:EMBC) Upgraded at Morgan Stanley

Embecta (NASDAQ:EMBC) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday, Marketbeat reports. The firm presently has a $20.00 price target on the stock, up from their prior price target of $13.00. Morgan Stanley’s price objective points to a potential downside of 3.98% from the stock’s previous close.

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

Embecta Trading Up 1.2 %

Shares of NASDAQ:EMBC opened at $20.83 on Monday. Embecta has a 12-month low of $9.93 and a 12-month high of $20.86. The stock’s 50-day moving average price is $14.68 and its 200-day moving average price is $14.21. The stock has a market capitalization of $1.20 billion, a P/E ratio of 15.43 and a beta of 0.97.

Institutional Trading of Embecta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EMBC. Wilmington Savings Fund Society FSB purchased a new position in Embecta during the 3rd quarter valued at $217,000. Barclays PLC boosted its stake in shares of Embecta by 41.1% during the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Meros Investment Management LP purchased a new position in shares of Embecta during the third quarter valued at about $2,679,000. Geode Capital Management LLC increased its position in shares of Embecta by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after buying an additional 45,228 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Embecta by 156.1% in the third quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after buying an additional 107,567 shares during the period. Hedge funds and other institutional investors 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.