Embecta (NASDAQ:EMBC) Stock Price Up 3.5%

Embecta Corp. (NASDAQ:EMBC)’s stock price rose 3.5% during trading on Friday . The stock traded as high as $10.78 and last traded at $10.71. Approximately 70,660 shares traded hands during trading, a decline of 83% from the average daily volume of 406,980 shares. The stock had previously closed at $10.35.

Embecta Stock Performance

The company has a market capitalization of $612.65 million, a P/E ratio of 11.20 and a beta of 0.73. The firm’s fifty day moving average is $13.24 and its 200 day moving average is $15.56.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.15. The company had revenue of $277.30 million during the quarter, compared to analysts’ expectations of $264.92 million. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. On average, analysts forecast that Embecta Corp. will post 2.14 EPS for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 5.64%. Embecta’s payout ratio is presently 63.16%.

Insider Transactions at Embecta

In other news, Director David F. Melcher acquired 2,000 shares of Embecta stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $16.25 per share, for a total transaction of $32,500.00. Following the purchase, the director now directly owns 45,080 shares in the company, valued at approximately $732,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in Embecta by 62.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock valued at $30,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Embecta by 493.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock worth $64,000 after acquiring an additional 1,896 shares during the period. Signaturefd LLC increased its stake in shares of Embecta by 1,254.4% in the third quarter. Signaturefd LLC now owns 2,316 shares of the company’s stock worth $35,000 after acquiring an additional 2,145 shares during the period. National Bank of Canada FI increased its stake in shares of Embecta by 187.9% in the third quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $44,000 after acquiring an additional 1,811 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Embecta in the fourth quarter worth $53,000. Institutional investors and hedge funds 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.