Embecta Corp. (NASDAQ:EMBC) Declares $0.15 Quarterly Dividend

Embecta Corp. (NASDAQ:EMBC - Get Free Report) declared a quarterly dividend on Friday, May 9th, RTT News reports. Stockholders of record on Wednesday, May 28th will be paid a dividend of 0.15 per share on Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.00%.

Embecta has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $3.07 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 19.5%.

Embecta Trading Down 9.8%

NASDAQ EMBC traded down $1.30 during trading hours on Friday, hitting $12.00. 975,119 shares of the company's stock were exchanged, compared to its average volume of 447,584. The firm has a market cap of $697.61 million, a price-to-earnings ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.24. The stock has a 50-day simple moving average of $12.45 and a 200 day simple moving average of $15.76. Embecta has a 1-year low of $10.83 and a 1-year high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million for the quarter, compared to analysts' expectations of $261.77 million. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. On average, sell-side analysts anticipate that Embecta will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Mizuho assumed coverage on shares of Embecta in a report on Thursday, April 10th. They issued a "neutral" rating and a $15.00 price target for the company.

Insider Activity at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the sale, the director now owns 36,133 shares of the company's stock, valued at approximately $591,858.54. This trade represents a 7.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

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.