Embecta (NASDAQ:EMBC) Shares Down 2%

Shares of Embecta Corp. (NASDAQ:EMBC) traded down 2% during trading on Wednesday . The stock traded as low as $16.17 and last traded at $16.17. 24,383 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 415,311 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

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

Embecta Price Performance

The company has a market capitalization of $926.76 million, a P/E ratio of 13.64 and a beta of 1.00. The firm has a fifty day moving average price of $14.84 and a 200-day moving average price of $13.25.

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

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Tuesday, August 27th. Embecta’s dividend payout ratio is currently 49.59%.

Institutional Investors Weigh In On Embecta

Several large investors have recently modified their holdings of the stock. LSV Asset Management increased its position in Embecta by 205.6% in the first quarter. LSV Asset Management now owns 110,700 shares of the company’s stock worth $1,469,000 after buying an additional 74,480 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Embecta by 77.0% in the 4th quarter. Allianz Asset Management GmbH now owns 141,124 shares of the company’s stock worth $2,671,000 after acquiring an additional 61,400 shares during the last quarter. Sei Investments Co. raised its stake in Embecta by 15.9% in the 1st quarter. Sei Investments Co. now owns 362,111 shares of the company’s stock valued at $4,805,000 after acquiring an additional 49,551 shares during the period. Public Employees Retirement System of Ohio boosted its position in Embecta by 1,135.6% during the first quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after purchasing an additional 37,009 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after purchasing an additional 187,916 shares in the last quarter. 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.