Embecta (NASDAQ:EMBC) Stock Price Up 3.5%

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

Embecta Trading Up 2.8 %

The company has a market capitalization of $612.65 million, a price-to-earnings ratio of 11.20 and a beta of 0.73. The company’s 50 day simple moving average is $13.24 and its 200-day simple moving average is $15.56.

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

Embecta Dividend Announcement

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

Insider Buying and Selling

In related news, Director David F. Melcher bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $16.25 per share, with a total value of $32,500.00. Following the completion of the transaction, the director now owns 45,080 shares of the company’s stock, valued at $732,550. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Embecta

Several hedge funds have recently modified their holdings of EMBC. The Manufacturers Life Insurance Company raised its holdings in Embecta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,105 shares of the company’s stock valued at $584,000 after buying an additional 403 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Embecta by 62.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock valued at $30,000 after buying an additional 528 shares during the period. Deutsche Bank AG raised its holdings in Embecta by 1.6% in the fourth quarter. Deutsche Bank AG now owns 37,918 shares of the company’s stock valued at $959,000 after buying an additional 604 shares during the period. SummerHaven Investment Management LLC raised its holdings in Embecta by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 34,483 shares of the company’s stock valued at $653,000 after buying an additional 629 shares during the period. Finally, Credit Suisse AG raised its holdings in Embecta by 1.6% in the first quarter. Credit Suisse AG now owns 52,393 shares of the company’s stock valued at $1,473,000 after buying an additional 813 shares during the period. 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.