Embecta (NASDAQ:EMBC) Shares Down 4.9% - Here's What Happened

Shares of Embecta Corp. (NASDAQ:EMBC - Get Free Report) traded down 4.9% on Wednesday . The stock traded as low as $10.54 and last traded at $10.57. 209,848 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 463,322 shares. The stock had previously closed at $11.11.

Wall Street Analyst Weigh In

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

Embecta Stock Performance

The company has a market cap of $620.66 million, a PE ratio of 10.62, a PEG ratio of 0.78 and a beta of 1.24. The firm has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $15.39.

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

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.65%. The ex-dividend date is Wednesday, May 28th. Embecta's dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling at Embecta

In other news, Director David F. Melcher bought 10,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the acquisition, the director now owns 86,681 shares of the company's stock, valued at $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is owned by company insiders.

Institutional Trading of Embecta

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Embecta by 175.1% during 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 during the period. Sterling Capital Management LLC grew its holdings in shares of Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after purchasing an additional 1,497 shares during the period. Banque Transatlantique SA grew its holdings in shares of Embecta by 879.1% during the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock worth $44,000 after purchasing an additional 3,323 shares during the period. Brooklyn Investment Group grew its holdings in shares of Embecta by 1,164.1% during 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 period. Finally, Wealthquest Corp purchased a new stake in shares of Embecta during the 1st quarter worth about $48,000. Hedge funds and other 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.