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

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $9.49 and last traded at $9.73, with a volume of 50893 shares trading hands. The stock had previously closed at $9.56.

Analysts Set New Price Targets

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

Embecta Trading Down 1.0%

The company has a market capitalization of $569.21 million, a price-to-earnings ratio of 3.83, a PEG ratio of 0.61 and a beta of 1.13. The firm's 50 day simple moving average is $11.26 and its 200-day simple moving average is $14.78.

Embecta (NASDAQ:EMBC - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, topping 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 analysts' expectations of $261.77 million. During the same quarter last year, the business earned $0.67 EPS. The business's revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend was Wednesday, May 28th. Embecta's dividend payout ratio is presently 66.67%.

Insider Transactions at Embecta

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 stock was purchased at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On Embecta

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 774 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Embecta by 9.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock valued at $140,000 after buying an additional 907 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of 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. Inspire Advisors LLC boosted its stake in shares of Embecta by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after acquiring an additional 1,138 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Embecta by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,323 shares of the company's stock worth $629,000 after acquiring an additional 1,159 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

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.