Embecta (NASDAQ:EMBC) Stock Price Up 4.3% - Should You Buy?

Shares of Embecta Corp. (NASDAQ:EMBC - Get Free Report) rose 4.3% during trading on Monday . The stock traded as high as $13.16 and last traded at $13.30. Approximately 158,842 shares changed hands during trading, a decline of 61% from the average daily volume of 407,890 shares. The stock had previously closed at $12.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EMBC shares. BTIG Research upgraded 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 upgraded Embecta from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Price Performance

The stock's 50-day moving average is $16.77 and its two-hundred day moving average is $16.47. The company has a market cap of $766.50 million, a P/E ratio of 13.19, a P/E/G ratio of 0.78 and a beta of 1.27.

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

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Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued 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 yield of 4.55%. Embecta's dividend payout ratio is currently 60.00%.

Insider Activity at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the firm'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 sale, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Trading of Embecta

A number of hedge funds and other institutional investors have recently modified their holdings of EMBC. Natixis Advisors LLC boosted its holdings in Embecta by 5.7% in the 3rd quarter. Natixis Advisors LLC now owns 30,735 shares of the company's stock worth $433,000 after buying an additional 1,648 shares during the period. Quest Partners LLC purchased a new position in shares of Embecta in the third quarter valued at about $239,000. Segall Bryant & Hamill LLC bought a new position in shares of Embecta in the third quarter worth about $1,485,000. Jennison Associates LLC purchased a new stake in shares of Embecta during the third quarter worth about $594,000. Finally, Intech Investment Management LLC bought a new stake in Embecta during the 3rd quarter valued at approximately $211,000. 93.83% of the stock is owned by hedge funds and other 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.