Embecta (NASDAQ:EMBC) Trading 4.3% Higher – Still a Buy?

Embecta Corp. (NASDAQ:EMBC)’s share price was up 4.3% on Monday . The company traded as high as $13.16 and last traded at $13.30. Approximately 158,842 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 407,890 shares. The stock had previously closed at $12.75.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EMBC. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Price Performance

The firm’s 50 day moving average is $17.31 and its 200 day moving average is $16.50. The company has a market cap of $811.55 million, a PE ratio of 13.96, a PEG ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.30%. Embecta’s payout ratio is currently 60.00%.

Insider Activity

In other news, Director Milton Mayo Morris sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the sale, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Siemens Fonds Invest GmbH purchased a new position in Embecta in the 4th quarter worth $77,000. Ameriflex Group Inc. bought a new position in shares of Embecta during the fourth quarter valued at about $53,000. Mackenzie Financial Corp increased its holdings in shares of Embecta by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 40,956 shares of the company’s stock worth $846,000 after buying an additional 1,743 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Embecta by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,279 shares of the company’s stock valued at $3,392,000 after acquiring an additional 23,611 shares during the last quarter. Finally, WBI Investments LLC purchased a new stake in Embecta during the 4th quarter valued at about $247,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

About Embecta

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.