embecta

Embecta (Nasdaq:EMBC) shares took a hit this morning despite Street-beating first-quarter results and increased 2024 guidance.

Shares of EMBC fell 7.8% at $16.37 apiece as the market opened today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — opened today relatively even.

The Parsippany, New Jersey-based BD Diabetes spinoff posted profits of $20.1 million in the quarter. That equals 35¢ per share on sales of $277.3 million for the three months ended Dec. 31, 2023. Embecta recorded a 42.9% bottom-line slide on sales growth of 0.6%.

Get the full story at our sister site, Drug Delivery Business News.

Embecta (NYSE: EMBC) + CEO Dev Kurdikar says the company set out for its second full year since spinning off from BD with three clear goals.

The company wanted to keep the core business strong, continue progressing on the separation and standing on its own and, finally, continue investing in growth — namely on its insulin patch pump development program.

Embecta’s core business continued to grow, completed a number of crucial projects related to the separation and continued the development of the patch pump with new partnerships and more.

“For now I’ll say I’m very pleased with our progress,” Kurdikar told Drug Delivery Business News. “We’ve continued exactly on the path that we laid out more than two years ago, now. We saw substantive progress in 2023. For 2024, it’s the same priorities, but we’re looking forward to getting closure on…

The FDA yesterday warned of the potential for device failures with plastic syringes manufactured in China. Failures could include leaks, breakage and other problems. The agency said it received information about quality issues associated with several Chinese syringe manufacturers.

Embecta, the BD diabetes business spinoff, manufactures syringe devices for the delivery of insulin. However, the manufacturing for these devices only takes place in the U.S.

Get the full story at our sister site, Drug Delivery Business News.

Embecta (Nasdaq:EMBC) shares ticked up today on second-quarter results that topped the consensus forecast, leading to a guidance increase.

Shares of EMBC grew 2.1% to $29.52 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.1%.

The Parsippany, New Jersey-based diabetes technology company posted profits of $14 million. That amounts to per share on sales of $277.1 million for the three months ended March 31, 2023.

Embecta, which spun off from BD last year, recorded a bottom-line slide of 82.4% on sales growth of 0.9%.

Get the full story at our sister site, Drug Delivery Business News.

BTIG analysts Marie Thibault and Sam Eiber met with Embecta (Nasdaq:EMBC) executives last week and received an update on the company’s current position.

Thibault and Eiber met with Embecta CFO Jake Elguicze and Head of Investor Relations Pravesh Khandelwal.

Among a series of updates, the BTIG report said Embecta expects a “transitional period” in the next 12-18 months. That includes standing up its own business units and exiting remaining transition service agreements (TSAs), plus investing in growth opportunities.

The report also updated on the BD diabetes spinoff’s insulin patch pump development and other potential business opportunities. Thibault and Eiber maintained a “Neutral” rating on Embecta stock.

Get the full story at our sister site, Drug Delivery Business News.

Embecta (Nasdaq:EMBC) shares received a boost today on fourth-quarter results that came in well ahead of the consensus forecast.

Shares of EMBC ticked up 7.9% at $30.67 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 11.3%.

Wall Street’s positive reaction to the results is likely attributable to Embecta’s sizeable guidance increase for 2023.

The company now projects adjusted EPS to range between $2.20 and $2.35. That marks a significant rise from previous expectations for between $1.75 and $2. Embecta also upped its revenue guidance, now projecting between $1.084 billion and $1.107 billion. Its previous range fell between $1.05 billion and $1.073 billion.

The company now projects adjusted EPS to range between $2.20 and $2.35. That marks a significant rise from previous expectations of between $1.75 and $2. Embecta also upped i…

Embecta (Nasdaq:EMBC) announced today that it held a grand opening ceremony at its new global headquarters in New Jersey.

The BD Diabetes business spinoff opened its new headquarters at 300 Kimball Drive, Suite 300, in Parsippany, New Jersey. The site houses members of the Embecta leadership team, global support functions and North American commercial organization.

Embecta has approximately 2,000 employees globally.

“With a number of our employees currently making their homes in New Jersey, the ability to tap into one of the nation’s most significant concentrations of highly-educated, experienced medical technology talent, and easy access to international airports and interstate highways, we see Parsippany as the ideal location to establish our worldwide headquarters,” said Devdatt (Dev) Kurdikar, president and CEO, Embecta.

“We are a new company, but our roots in New Jersey go back nearly 100 years when, as part of BD, we developed the first dedi…