Embecta (NASDAQ:EMBC) Hits New 1-Year Low - What's Next?

Embecta Corp. (NASDAQ:EMBC - Get Free Report) shares hit a new 52-week low on Monday . The company traded as low as $10.20 and last traded at $10.52, with a volume of 100094 shares traded. The stock had previously closed at $10.53.

Analyst Ratings Changes

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

Embecta Trading Down 2.0%

The stock's 50 day moving average price is $11.78 and its two-hundred day moving average price is $15.30. The firm has a market capitalization of $607.81 million, a PE ratio of 10.40, a PEG ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The company had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. During the same period in the previous year, the company earned $0.67 EPS. The business's quarterly revenue was down 9.8% compared to the same quarter last year. Analysts expect that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.77%. Embecta's dividend payout ratio is presently 66.67%.

Insider Activity

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

Hedge Funds Weigh In On Embecta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Embecta during the 4th quarter valued at $209,000. Bank of New York Mellon Corp lifted its holdings in shares of Embecta by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock valued at $14,155,000 after acquiring an additional 4,769 shares in the last quarter. Amundi lifted its holdings in shares of Embecta by 161.2% during the 4th quarter. Amundi now owns 32,287 shares of the company's stock valued at $655,000 after acquiring an additional 19,925 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Embecta by 41.4% during the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company's stock valued at $3,192,000 after acquiring an additional 45,290 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Embecta by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock valued at $145,076,000 after acquiring an additional 28,031 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company's stock.

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.