Embecta Corp. (NASDAQ:EMBC - Get Free Report) shares dropped 5.1% during trading on Wednesday . The company traded as low as $13.61 and last traded at $13.59. Approximately 252,017 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 413,445 shares. The stock had previously closed at $14.32.
Analysts Set New Price Targets
EMBC has been the topic of a number of research reports. BTIG Research upgraded shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $13.00 to $20.00 in a report on Monday, December 2nd.
Read Our Latest Stock Report on Embecta
Embecta Stock Performance
The stock has a market cap of $764.46 million, a P/E ratio of 13.15, a P/E/G ratio of 0.78 and a beta of 1.27. The stock's fifty day simple moving average is $16.62 and its 200-day simple moving average is $16.47.
Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, equities research analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.
Embecta Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Friday, February 28th. Embecta's dividend payout ratio (DPR) is presently 60.00%.
Insider Transactions at Embecta
In other news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the sale, the director now owns 36,133 shares of the company's stock, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by insiders.
Institutional Trading of Embecta
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after acquiring an additional 774 shares during the period. Victory Capital Management Inc. lifted its stake in Embecta by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock valued at $361,000 after purchasing an additional 923 shares during the last quarter. Inspire Advisors LLC lifted its stake in Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock valued at $667,000 after purchasing an additional 1,138 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Embecta by 13.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock valued at $282,000 after purchasing an additional 1,597 shares during the last quarter. Institutional investors own 93.83% of the company's stock.
About Embecta
(
Get Free Report)
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.
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