Embecta (NASDAQ:EMBC) Shares Gap Down - What's Next?

Shares of Embecta Corp. (NASDAQ:EMBC - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $18.20, but opened at $17.24. Embecta shares last traded at $17.87, with a volume of 39,838 shares trading hands.

Analyst Ratings Changes

EMBC has been the subject of several research reports. Morgan Stanley upgraded shares of Embecta from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $13.00 to $20.00 in a research report on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 target price for the company in a research note on Wednesday, November 27th.

Embecta Stock Up 0.5 %

The company has a fifty day moving average of $19.58 and a two-hundred day moving average of $16.55. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 0.95 and a beta of 1.20.

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

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.43%. Embecta's dividend payout ratio (DPR) is presently 60.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in shares of Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 774 shares in the last quarter. Quarry LP acquired a new position in Embecta during the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new position in Embecta in the third quarter valued at about $43,000. CWM LLC lifted its position in shares of Embecta by 11.3% during the 3rd quarter. CWM LLC now owns 10,102 shares of the company's stock valued at $142,000 after acquiring an additional 1,023 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Embecta in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors 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.