Embecta (NASDAQ:EMBC) Shares Up 4.4% – Here’s What Happened

Embecta Corp. (NASDAQ:EMBC)’s stock price traded up 4.4% during trading on Monday . The company traded as high as $12.72 and last traded at $12.82. 307,456 shares traded hands during trading, a decline of 30% from the average session volume of 439,901 shares. The stock had previously closed at $12.28.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Stock Performance

The stock’s 50-day simple moving average is $15.26 and its 200-day simple moving average is $16.27. The firm has a market capitalization of $741.21 million, a PE ratio of 12.75, a P/E/G ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.71%. Embecta’s payout ratio is 60.00%.

Insider Buying and Selling

In other news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now directly owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by insiders.

Institutional Trading of Embecta

Several institutional investors have recently bought and sold shares of EMBC. Siemens Fonds Invest GmbH bought a new position in shares of Embecta in the fourth quarter worth approximately $77,000. Ameriflex Group Inc. bought a new position in Embecta in the 4th quarter valued at approximately $53,000. Mackenzie Financial Corp raised its stake in shares of Embecta by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 40,956 shares of the company’s stock worth $846,000 after purchasing an additional 1,743 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Embecta by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,279 shares of the company’s stock valued at $3,392,000 after purchasing an additional 23,611 shares in the last quarter. Finally, WBI Investments LLC purchased a new stake in shares of Embecta during the fourth quarter valued at $247,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

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.