Monitoring Embecta Corp. (EMBC) after recent insider movements

CHWY Stock
CHWY Stock

Embecta Corp.’s filing revealed that its President and CEO Kurdikar Devdatt acquired Company’s shares for reported $0.11 million on Aug 10. In the deal valued at $21.81 per share,5,000 shares were bought. As a result of this transaction, Kurdikar Devdatt now holds 244,791 shares worth roughly $ 4.46 million.

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Then, Mann Jeffrey Z bought 4,700 shares, generating $101,849 in total proceeds. Upon buying the shares at $21.67, the SVP, GC, Head Corp. Dev., Secy now owns 55,333 shares.

Before that, Elguicze Jacob bought 4,625 shares. Embecta Corp. shares valued at $100,195 were divested by the SVP and CFO at a price of $21.66 per share. As a result of the transaction, Elguicze Jacob now holds 66,027 shares, worth roughly $1.2 million.

Morgan Stanley downgraded its Embecta Corp. [EMBC] rating to an Underweight from a an Equal-weight in a research note published on Friday. PT values the company’s stock at a premium of 34.86 to its Friday closing price.

Price Performance Review of EMBC

On Friday, Embecta Corp. [NASDAQ:EMBC] saw its stock fall -0.49% to $18.24. On the same session, the stock had its day’s lowest price of $18.17, but rose to a high of $18.98. Over the last five days, the stock has gained 6.42%. Embecta Corp. shares have fallen nearly -27.88% since the year began. Nevertheless, the stocks have fallen -42.86% over the past one year. While a 52-week high of $36.64 was reached on 02/16/23, a 52-week low of $16.69 was recorded on 08/24/23. SMA at 50 days reached $20.29, while 200 days put it at $26.66. A total of 0.41 million shares were traded, compared to the trading of 0.63 million shares in the previous session.

Levels Of Support And Resistance For EMBC Stock

The 24-hour chart illustrates a support level at 17.95, which if violated will result in even more drops to 17.65. On the upside, there is a resistance level at 18.76. A further resistance level may holdings at 19.27. The Relative Strength Index (RSI) on the 14-day chart is 40.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.35%. Stochastics %K at 35.55% indicates the stock is a holding.

How much short interest is there in Embecta Corp.?

A steep rise in short interest was recorded in Embecta Corp. stocks on Aug 14, 2023, growing by 0.87 million shares to a total of 3.66 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.79 million shares. There was a rise of 23.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.41% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.19.

Embecta Corp. [EMBC] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 8,398,100 shares, or roughly 14.66% of the outstanding EMBC shares. In other words, the investor’s shares have risen by 55,303 from its previous 13-F filing of 8342797.0. Additionally, The Vanguard Group, Inc. decreased -0.82% of its stake after which the total value it holdings stand at $146,489,348, while American Century Investment Manag added 13.09% of its stake to hold $111.67 million in the firm. Over the last quarter, T. Rowe Price Investment Manageme sold -555,774 shares of Embecta Corp., while Fidelity Management & Research Co sold -1,217,563 shares. At present, Yacktman Asset Management LP is holding 2,621,589 shares valued at $55.94 million. SSgA Funds Management, Inc. owned 2,439,241 shares of the company at the time of its most recent 13F filing, worth $52.05 million.

According to FactSet, Embecta Corp.’s share price will average $20.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.84 percent from its previous closing price of $18.33. Analysts expect Embecta Corp. stock to reach the higher price of $25.00, while the lowest price estimate is $16.00. However, 3 analysts have rated EMBC stock as an Underweight in their predictions for 2023.


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