Embecta (NASDAQ:EMBC) Shares Down 2.6% - What's Next?

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s share price fell 2.6% on Monday . The company traded as low as $11.94 and last traded at $11.98. 82,776 shares were traded during trading, a decline of 82% from the average session volume of 452,717 shares. The stock had previously closed at $12.30.

Analyst Ratings Changes

Separately, Mizuho began coverage on Embecta in a research note on Thursday, April 10th. They issued a "neutral" rating and a $15.00 price objective on the stock.

Embecta Price Performance

The firm has a market capitalization of $659.24 million, a P/E ratio of 11.34, a P/E/G ratio of 0.78 and a beta of 1.23. The firm has a 50-day moving average price of $13.12 and a two-hundred day moving average price of $15.88.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping 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%. Sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.29%. Embecta's dividend payout ratio is currently 60.00%.

Insider Transactions at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On Embecta

Large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Embecta by 1,261.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the company's stock worth $94,000 after buying an additional 6,848 shares during the last quarter. GAMMA Investing LLC boosted its stake in Embecta by 2,100.4% in the first quarter. GAMMA Investing LLC now owns 19,826 shares of the company's stock valued at $253,000 after acquiring an additional 18,925 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new position in Embecta in the fourth quarter worth $77,000. Ameriflex Group Inc. acquired a new position in shares of Embecta during the fourth quarter worth $53,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Embecta by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock valued at $846,000 after purchasing an additional 1,743 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

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.