Embecta (NASDAQ:EMBC) Trading 2.8% Higher

Embecta Corp. (NASDAQ:EMBC)’s share price was up 2.8% during trading on Friday . The company traded as high as $15.57 and last traded at $15.56. 93,863 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 419,061 shares. The stock had previously closed at $15.13.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley decreased their price objective on Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, July 15th.

Embecta Stock Performance

The company has a market cap of $891.58 million, a price-to-earnings ratio of 12.50 and a beta of 0.99. The business’s 50 day simple moving average is $14.22 and its 200-day simple moving average is $13.19.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.28. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The firm had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Research analysts expect that Embecta Corp. will post 2.43 earnings per share for the current year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 3.88%. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Institutional Investors Weigh In On Embecta

Several hedge funds and other institutional investors have recently made changes to their positions in EMBC. Russell Investments Group Ltd. grew its stake in shares of Embecta by 126.3% in the fourth quarter. Russell Investments Group Ltd. now owns 57,388 shares of the company’s stock worth $1,086,000 after acquiring an additional 32,029 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Embecta by 28.3% in the fourth quarter. Natixis Advisors L.P. now owns 30,582 shares of the company’s stock valued at $578,000 after buying an additional 6,739 shares during the period. LSV Asset Management acquired a new stake in Embecta during the fourth quarter worth about $686,000. Charles Schwab Investment Management Inc. increased its stake in Embecta by 29.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,288,995 shares of the company’s stock valued at $24,401,000 after acquiring an additional 296,997 shares during the period. Finally, Ceera Investments LLC acquired a new position in Embecta in the 4th quarter valued at approximately $2,891,000. 93.83% of the stock is owned by institutional investors and hedge funds.

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.