Embecta (NASDAQ:EMBC) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of Embecta (NASDAQ:EMBC - Free Report) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Embecta Stock Performance

Shares of NASDAQ:EMBC traded up $0.01 during trading hours on Wednesday, hitting $11.91. The stock had a trading volume of 513,062 shares, compared to its average volume of 455,873. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The firm has a market capitalization of $692.38 million, a price-to-earnings ratio of 11.91, a PEG ratio of 0.78 and a beta of 1.23. The stock's fifty day simple moving average is $13.60 and its 200 day simple moving average is $15.98.

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, 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, research analysts anticipate that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Friday, February 28th. Embecta's payout ratio is currently 60.00%.

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Insider Transactions at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On Embecta

A number of institutional investors have recently bought and sold shares of the stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of Embecta in the 3rd quarter valued at approximately $438,000. Barclays PLC lifted its holdings in shares of Embecta by 41.1% in the third quarter. Barclays PLC now owns 97,930 shares of the company's stock valued at $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Embecta by 156.1% during the third quarter. Jane Street Group LLC now owns 176,487 shares of the company's stock valued at $2,488,000 after buying an additional 107,567 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Embecta by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company's stock valued at $19,564,000 after buying an additional 45,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Embecta in the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

About Embecta

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.