Embecta (NASDAQ:EMBC) Trading Down 4.2% – What’s Next?

Embecta Corp. (NASDAQ:EMBC) shares fell 4.2% on Wednesday . The company traded as low as $13.05 and last traded at $13.08. 109,824 shares were traded during trading, a decline of 74% from the average session volume of 417,738 shares. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

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

Embecta Stock Performance

The stock has a market cap of $752.59 million, a P/E ratio of 11.29 and a beta of 0.98. The firm’s 50 day moving average is $14.87 and its 200 day moving average is $13.35.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data 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 net margin of 6.23% and a negative return on equity of 19.09%. The company had revenue of $272.50 million during the quarter, compared to the consensus estimate of $267.44 million. During the same quarter in the prior year, the firm earned $0.69 EPS. Embecta’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, analysts expect that Embecta Corp. will post 2.43 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s dividend payout ratio is presently 49.59%.

Institutional Trading of Embecta

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock worth $7,683,000 after buying an additional 354,454 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Embecta by 95.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock worth $8,536,000 after buying an additional 313,951 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Embecta by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after buying an additional 187,916 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Embecta during the 2nd quarter worth about $1,663,000. Finally, AXA S.A. acquired a new stake in shares of Embecta in the second quarter worth $1,595,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.