Embecta (NASDAQ:EMBC) Trading Down 3.7% - Time to Sell?

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s stock price dropped 3.7% on Thursday . The company traded as low as $9.63 and last traded at $9.57. Approximately 100,630 shares traded hands during trading, a decline of 79% from the average daily volume of 487,525 shares. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

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

Embecta Price Performance

The firm has a market capitalization of $563.36 million, a price-to-earnings ratio of 3.80, a price-to-earnings-growth ratio of 0.61 and a beta of 1.13. The business's 50 day moving average price is $11.04 and its 200-day moving average price is $14.28.

Embecta (NASDAQ:EMBC - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $261.77 million. Embecta had a negative return on equity of 19.67% and a net margin of 4.89%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, analysts expect that Embecta Corp. will post 2.85 earnings per share 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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend was Wednesday, May 28th. Embecta's payout ratio is 66.67%.

Insider Buying and Selling at Embecta

In related news, Director David F. Melcher bought 10,000 shares of the stock in a transaction on Friday, May 23rd. The shares were bought at an average cost 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. This represents a 13.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Embecta

Several institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new position in Embecta in the 4th quarter valued at approximately $209,000. Bank of New York Mellon Corp boosted 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 worth $14,155,000 after buying an additional 4,769 shares in the last quarter. Amundi grew its stake in Embecta by 161.2% in the 4th quarter. Amundi now owns 32,287 shares of the company's stock valued at $655,000 after acquiring an additional 19,925 shares during the last quarter. Prudential Financial Inc. grew its stake in Embecta by 41.4% in the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company's stock valued at $3,192,000 after acquiring an additional 45,290 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Embecta by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock valued at $145,076,000 after acquiring an additional 28,031 shares in the last quarter. Hedge funds and other 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.