Shares of Embecta Corp. (NASDAQ:EMBC - Get Free Report) rose 3.2% on Monday . The company traded as high as $14.15 and last traded at $14.07. Approximately 44,444 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 414,951 shares. The stock had previously closed at $13.64.
Analysts Set New Price Targets
Separately, Morgan Stanley decreased their price objective on shares of Embecta from $13.00 to $12.00 and set an "underweight" rating for the company in a research report on Monday, July 15th.
Check Out Our Latest Analysis on EMBC
Embecta Price Performance
The company's 50-day moving average price is $14.62 and its two-hundred day moving average price is $13.37. The company has a market capitalization of $809.11 million, a P/E ratio of 11.78 and a beta of 0.98.
Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The firm had revenue of $272.50 million during the quarter, compared to the consensus estimate of $267.44 million. During the same period last year, the business posted $0.69 earnings per share. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.
Embecta Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta's payout ratio is presently 49.59%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of EMBC. Copeland Capital Management LLC bought a new stake in shares of Embecta during the third quarter worth about $43,000. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta during the second quarter valued at $50,000. CWM LLC lifted its holdings in shares of Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company's stock worth $113,000 after purchasing an additional 8,040 shares during the period. Cardinal Capital Management bought a new stake in shares of Embecta in the first quarter worth $134,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Embecta in the second quarter valued at $140,000. Institutional investors and hedge funds own 93.83% of the company's stock.
About Embecta
(
Get Free Report)
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.
Featured Stories
Before you consider Embecta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Embecta wasn't on the list.
While Embecta currently has a "Sell" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
