Embecta (NASDAQ:EMBC) Stock Price Down 6.4% - Here's Why

Embecta Corp. (NASDAQ:EMBC - Get Free Report) traded down 6.4% on Tuesday . The stock traded as low as $9.75 and last traded at $9.71. 238,975 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 500,955 shares. The stock had previously closed at $10.37.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday. BTIG Research set a $25.00 price target on shares of Embecta and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Embecta Stock Down 0.6%

The company has a market capitalization of $556.64 million, a PE ratio of 10.59, a P/E/G ratio of 0.67 and a beta of 1.08. The stock has a 50-day moving average of $10.62 and a 200 day moving average of $13.49.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. The company had revenue of $259.00 million during 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 revenue was down 9.8% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. Equities analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.30%. The ex-dividend date was Wednesday, May 28th. Embecta's dividend payout ratio (DPR) is 66.67%.

Insider Transactions at Embecta

In other news, Director David F. Melcher bought 10,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $10.60 per share, with a total value of $106,000.00. Following the completion of the transaction, the director directly owned 86,681 shares of the company's stock, valued at $918,818.60. This represents a 13.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of Embecta

A number of large investors have recently bought and sold shares of EMBC. Victory Capital Management Inc. increased its position in Embecta by 5.6% in the fourth 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 last quarter. Raymond James Financial Inc. purchased a new stake in Embecta in the fourth quarter worth $6,598,000. Amundi increased its position in Embecta by 161.2% in the fourth quarter. Amundi now owns 32,287 shares of the company's stock worth $655,000 after buying an additional 19,925 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in Embecta in the fourth quarter worth $1,018,000. Finally, Natixis Advisors LLC increased its position in Embecta by 8.2% in the fourth quarter. Natixis Advisors LLC now owns 33,268 shares of the company's stock worth $687,000 after buying an additional 2,533 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

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.