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%.
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