BTIG Research Upgrades Embecta (NASDAQ:EMBC) to Buy

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

Embecta Trading Up 29.8 %

Shares of Embecta stock opened at $18.70 on Wednesday. Embecta has a 1 year low of $9.93 and a 1 year high of $20.80. The company’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $14.04. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 15.58 and a beta of 0.97.

Institutional Investors Weigh In On Embecta

Several hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in Embecta in the 3rd quarter valued at approximately $30,000. Copeland Capital Management LLC acquired a new position in shares of Embecta in the third quarter valued at $43,000. Iat Reinsurance Co. LTD. bought a new position in Embecta in the second quarter worth $50,000. CWM LLC lifted its position in Embecta by 773.8% in the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after purchasing an additional 8,040 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Embecta during the second quarter worth $140,000. 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.