Embecta (NASDAQ:EMBC) Stock Price Down 3.2%

Shares of Embecta Corp. (NASDAQ:EMBC) traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $14.13 and last traded at $14.28. 21,555 shares changed hands during trading, a decline of 95% from the average session volume of 422,949 shares. The stock had previously closed at $14.75.

Analyst Ratings Changes

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

Embecta Trading Down 0.5 %

The stock has a market cap of $850.63 million, a price-to-earnings ratio of 12.19 and a beta of 0.99. The stock has a fifty day simple moving average of $13.47 and a 200-day simple moving average of $13.33.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.28. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The business had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. During the same quarter last year, the company posted $0.69 earnings per share. Embecta’s quarterly revenue was down 4.8% on a year-over-year basis. Sell-side analysts forecast that Embecta Corp. will post 2.29 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 4.07%. Embecta’s dividend payout ratio is currently 49.59%.

Hedge Funds Weigh In On Embecta

A number of hedge funds have recently made changes to their positions in the business. Iat Reinsurance Co. LTD. bought a new stake in Embecta in the second quarter valued at about $50,000. Bfsg LLC bought a new position in Embecta during the fourth quarter worth about $53,000. YHB Investment Advisors Inc. acquired a new stake in Embecta during the first quarter valued at approximately $56,000. Public Employees Retirement System of Ohio grew its stake in shares of Embecta by 42.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,259 shares of the company’s stock valued at $62,000 after purchasing an additional 975 shares during the period. Finally, CWM LLC raised its holdings in shares of Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after buying an additional 8,040 shares in the last quarter. Institutional investors and hedge funds 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.