Embecta (NASDAQ:EMBC) Sets New 1-Year Low - Time to Sell?

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock 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 Upgrades and Downgrades

EMBC has been the topic of a number of research reports. Mizuho cut their target price on shares of Embecta from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, BTIG Research set a $25.00 price objective on shares of Embecta and gave the company a "buy" rating in a research note on Friday, May 23rd.

Embecta Stock Down 1.9%

The business has a fifty day moving average of $11.73 and a 200 day moving average of $15.27. The firm has a market cap of $572.16 million, a P/E ratio of 9.79, a P/E/G ratio of 0.78 and a beta of 1.13.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $259.00 million during the quarter, compared to analyst estimates 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 previous year, the company earned $0.67 EPS. On average, sell-side analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's payout ratio is presently 66.67%.

Insiders Place Their Bets

In other news, Director David F. Melcher purchased 10,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the acquisition, 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company's stock.

Institutional Trading of Embecta

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Embecta by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 280,004 shares of the company's stock worth $5,782,000 after acquiring an additional 7,887 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Embecta by 0.7% in 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 purchasing an additional 4,769 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Embecta during the 4th quarter worth approximately $209,000. Smartleaf Asset Management LLC raised its holdings in Embecta by 175.1% during the 4th 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 holdings in Embecta by 5.6% during the 4th 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. 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.