Embecta (NASDAQ:EMBC) Trading Down 4.9% - Should You Sell?

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

Analyst Upgrades and Downgrades

EMBC has been the subject of a number of research analyst reports. Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. BTIG Research set a $25.00 price objective on Embecta and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Mizuho lowered their target price on Embecta from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Embecta Trading Down 0.8%

The firm has a market capitalization of $610.73 million, a PE ratio of 10.45, a PEG ratio of 0.78 and a beta of 1.24. The firm's fifty day moving average price is $11.90 and its 200 day moving average price is $15.40.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The firm had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. During the same quarter last year, the firm earned $0.67 earnings per share. The business's revenue for the quarter 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 company 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 annualized dividend and a dividend yield of 5.74%. Embecta's payout ratio is 66.67%.

Insider Activity at Embecta

In other Embecta news, Director David F. Melcher acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director now owns 86,681 shares of the company's stock, valued at approximately $918,818.60. This trade represents a 13.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Embecta by 175.1% during the fourth 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 lifted its stake 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 worth $35,000 after buying an additional 1,497 shares during the last quarter. Banque Transatlantique SA boosted 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 buying an additional 3,323 shares during the period. Brooklyn Investment Group boosted 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 buying an additional 3,306 shares during the period. Finally, Wealthquest Corp acquired a new position in Embecta in the 1st quarter valued at $48,000. Institutional investors and hedge funds 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.