Embecta (NASDAQ:EMBC) Trading 6.3% Higher - Here's Why

Embecta Corp. (NASDAQ:EMBC - Get Free Report)'s share price was up 6.3% during trading on Tuesday . The company traded as high as $11.39 and last traded at $11.40. Approximately 60,597 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 461,125 shares. The stock had previously closed at $10.72.

Analyst Upgrades and Downgrades

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

Embecta Stock Performance

The stock has a market cap of $610.73 million, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24. The company has a 50-day simple moving average of $11.94 and a two-hundred day simple moving average of $15.43.

Embecta (NASDAQ:EMBC - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. The business had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The firm's revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. As a group, sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.74%. Embecta's dividend payout ratio (DPR) is currently 66.67%.

Insider Buying and Selling at Embecta

In other news, Director David F. Melcher acquired 10,000 shares of Embecta stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director now directly owns 86,681 shares in the company, valued at approximately $918,818.60. The trade was a 13.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Embecta

A number of institutional investors have recently modified their holdings of EMBC. Smartleaf Asset Management LLC raised its stake in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after purchasing an additional 774 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after buying an additional 1,497 shares in the last quarter. Banque Transatlantique SA raised its position in shares of Embecta by 879.1% in the first quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock valued at $44,000 after buying an additional 3,323 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Embecta by 1,164.1% in the first quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock valued at $46,000 after buying an additional 3,306 shares during the period. Finally, Wealthquest Corp acquired a new stake in Embecta during the first quarter worth approximately $48,000. Institutional investors own 93.83% of the company's stock.

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.