Embecta (NASDAQ:EMBC) Stock Price Down 5.7% After Insider Selling

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s share price fell 5.7% on Friday following insider selling activity. The company traded as low as $15.31 and last traded at $15.23. 77,219 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 397,187 shares. The stock had previously closed at $16.15.

Specifically, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the sale, the director now directly owns 36,133 shares in the company, valued at $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BTIG Research raised shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 target price 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 lifted their price objective for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Trading Up 3.0 %

The company has a market cap of $889.39 million, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.95 and a beta of 1.20. The business has a 50-day moving average price of $19.12 and a 200 day moving average price of $16.57.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. On average, analysts anticipate that Embecta Corp. will post 2.87 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, February 28th. Embecta's dividend payout ratio (DPR) is currently 60.00%.

Institutional Investors Weigh In On Embecta

A number of large investors have recently made changes to their positions in EMBC. Rubric Capital Management LP purchased a new position in Embecta during the 3rd quarter worth approximately $15,306,000. William Blair Investment Management LLC purchased a new position in shares of Embecta during the fourth quarter valued at $15,270,000. Deerfield Management Company L.P. Series C raised its position in Embecta by 19.8% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock valued at $67,537,000 after buying an additional 540,192 shares during the period. Raymond James Financial Inc. purchased a new stake in Embecta in the 4th quarter worth about $6,598,000. Finally, American Century Companies Inc. boosted its position in Embecta by 8.0% during the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock worth $67,359,000 after acquiring an additional 242,668 shares during the period. Institutional investors and hedge funds own 93.83% of the company's stock.

Embecta Company Profile

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.