Embecta (NASDAQ:EMBC) Stock Price Down 3.7% - What's Next?

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

Analyst Ratings Changes

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

Embecta Trading Down 5.9%

The firm's fifty day moving average price is $11.11 and its 200 day moving average price is $14.50. The firm has a market capitalization of $546.12 million, a PE ratio of 10.38, a PEG ratio of 0.65 and a beta of 1.13.

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, topping analysts' consensus estimates of $0.66 by $0.04. Embecta had a negative return on equity of 19.67% and a net margin of 4.89%. The company had revenue of $259.00 million during the quarter, compared to the consensus estimate of $261.77 million. During the same period last year, the business earned $0.67 EPS. The business's quarterly revenue was down 9.8% on a year-over-year basis. As a group, research analysts expect 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. Investors of record on Wednesday, May 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Wednesday, May 28th. Embecta's payout ratio is presently 66.67%.

Insiders Place Their Bets

In other news, Director David F. Melcher purchased 10,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 86,681 shares in the company, valued at $918,818.60. This trade represents a 13.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Embecta by 175.1% during the 4th 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. Sterling Capital Management LLC increased its position in Embecta by 796.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after acquiring an additional 1,497 shares during the period. Banque Transatlantique SA raised its stake in Embecta by 879.1% during the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock valued at $44,000 after purchasing an additional 3,323 shares during the last quarter. Brooklyn Investment Group grew its position in Embecta by 1,164.1% in the 1st quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock worth $46,000 after purchasing an additional 3,306 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in shares of Embecta in the first quarter valued at about $48,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.