Embecta (NASDAQ:EMBC) Sets New 1-Year Low - Here's What Happened

Embecta Corp. (NASDAQ:EMBC - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $9.25 and last traded at $9.28, with a volume of 691433 shares changing hands. The stock had previously closed at $9.93.

Analyst Ratings Changes

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

Embecta Stock Performance

The stock has a market cap of $542.32 million, a P/E ratio of 10.31, a P/E/G ratio of 0.63 and a beta of 1.13. The business has a 50 day simple moving average of $11.07 and a 200-day simple moving average of $14.43.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The company had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.60 annualized dividend and a dividend yield of 6.47%. Embecta's payout ratio is currently 66.67%.

Insider Buying and Selling

In other news, Director David F. Melcher purchased 10,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the purchase, the director now owns 86,681 shares of the company's stock, valued at $918,818.60. The trade was a 13.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Embecta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMBC. Principal Financial Group Inc. increased its stake 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 purchasing an additional 7,887 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Embecta by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after buying an additional 4,769 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Embecta in the 4th quarter worth approximately $209,000. Smartleaf Asset Management LLC grew its stake in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 774 shares in the last quarter. 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 valued at $361,000 after acquiring an additional 923 shares during the period. 93.83% of the stock is currently owned by institutional investors.

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.

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