Embecta hits over two-month high as Q4 profit, revenue beat estimates

Embecta

21/11/2023 15:48

** Shares of Embecta Corp  EMBC.O  rise as much as 7.4% to
an over two-month high of $17.5 in morning trade; last up 4.6%
    ** Medical device co's Q4 2023 adj EPS of 59 cents beat Wall
Street estimates of 40 cents - LSEG
    ** EMBC's Q4 rev of $281.9 mln beat avg of analysts'
estimates of $271.6 mln 
     ** Co sees its FY24 adj EPS at $1.90-$2.10 vs avg analyst
estimate of $1.94
    ** EMBC forecasts FY24 rev between $1.09 bln and $1.11 bln 
    ** 2 of 4 brokerages rate the EMBC stock at "hold" and 2
"sell"; their median PT is $16
    ** Including session's gain, stock down 32.3% YTD 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))