Embecta (NASDAQ:EMBC) Hits New 12-Month Low – Here’s Why

Embecta Corp. (NASDAQ:EMBC) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.77 and last traded at $9.97, with a volume of 377494 shares trading hands. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EMBC. Wall Street Zen upgraded shares of Embecta from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. BTIG Research set a $25.00 price objective on Embecta and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Mizuho dropped their target price on Embecta from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd.

Embecta Stock Up 1.4%

The stock has a market cap of $580.11 million, a PE ratio of 9.94, a PEG ratio of 0.78 and a beta of 1.13. The stock’s fifty day moving average price is $11.67 and its 200 day moving average price is $15.26.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The business had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. During the same period last year, the business posted $0.67 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta’s dividend payout ratio (DPR) is presently 66.67%.

Insider Buying and Selling at Embecta

In other Embecta news, Director David F. Melcher purchased 10,000 shares of Embecta stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $10.60 per share, with a total value of $106,000.00. Following the transaction, the director now directly owns 86,681 shares of the company’s stock, valued at $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Embecta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Embecta by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 280,004 shares of the company’s stock valued at $5,782,000 after acquiring an additional 7,887 shares during the period. Bank of New York Mellon Corp grew its holdings in Embecta by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock valued at $14,155,000 after purchasing an additional 4,769 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Embecta in the fourth quarter worth about $209,000. Smartleaf Asset Management LLC raised its stake in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after buying an additional 774 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Embecta by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock worth $361,000 after buying an additional 923 shares during the period. 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.