Embecta (NASDAQ:EMBC) Sets New 52-Week Low - What's Next?

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s stock price reached a new 52-week low on Friday . The stock 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.

Analysts Set New Price Targets

Several research firms recently weighed in on EMBC. Mizuho decreased their price target on Embecta from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. BTIG Research set a $25.00 price target on Embecta and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Embecta Stock Performance

The company has a fifty day moving average of $11.01 and a two-hundred day moving average of $14.21. The company has a market cap of $566.28 million, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.61 and a beta of 1.13.

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

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.19%. The ex-dividend date was Wednesday, May 28th. Embecta's dividend payout ratio (DPR) is presently 66.67%.

Insider Buying and Selling

In other Embecta news, Director David F. Melcher acquired 10,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the transaction, the director directly owned 86,681 shares of the company's stock, valued at $918,818.60. The trade was a 13.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Embecta

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 worth $145,076,000 after buying an additional 28,031 shares in the last quarter. American Century Companies Inc. grew its position in shares of Embecta by 16.9% during the 1st quarter. American Century Companies Inc. now owns 3,813,411 shares of the company's stock worth $48,621,000 after buying an additional 551,477 shares in the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of Embecta by 19.8% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock worth $67,537,000 after buying an additional 540,192 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Embecta during the 4th quarter worth $15,270,000. Finally, Northern Trust Corp grew its position in shares of Embecta by 10.5% during the 4th quarter. Northern Trust Corp now owns 700,972 shares of the company's stock worth $14,475,000 after buying an additional 66,367 shares in the last quarter. Institutional investors 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.