Embecta (NASDAQ:EMBC) Releases Earnings Results, Beats Expectations By $0.26 EPS

Embecta (NASDAQ:EMBC) released its earnings results on Friday. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.26, Briefing.com reports. The business had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $267.44 million. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Embecta updated its FY 2024 guidance to 2.300-2.350 EPS and its FY24 guidance to $2.30-2.35 EPS.

Embecta Price Performance

NASDAQ EMBC traded up $1.05 during trading hours on Friday, hitting $15.39. 607,643 shares of the company’s stock traded hands, compared to its average volume of 425,460. Embecta has a 52-week low of $9.93 and a 52-week high of $22.16. The company has a market capitalization of $887.54 million, a PE ratio of 12.72 and a beta of 0.99. The firm’s 50-day moving average is $13.35 and its 200-day moving average is $13.40.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors 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 annualized dividend and a yield of 3.90%. Embecta’s dividend payout ratio is presently 49.59%.

Analyst Ratings Changes

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

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.