Embecta (NASDAQ:EMBC) Trading Down 7.8% – Should You Sell?

Embecta Corp. (NASDAQ:EMBC)’s share price traded down 7.8% on Friday . The company traded as low as $12.80 and last traded at $12.26. 36,623 shares were traded during mid-day trading, a decline of 93% from the average session volume of 525,778 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

Separately, Mizuho began coverage on Embecta in a research report on Thursday, April 10th. They set a “neutral” rating and a $15.00 price objective for the company.

Embecta Trading Down 9.8 %

The company’s 50 day moving average price is $12.45 and its 200 day moving average price is $15.75. The company has a market cap of $697.61 million, a price-to-earnings ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC) 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. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The business had revenue of $259.00 million during the quarter, compared to analysts’ expectations of $261.77 million. During the same period last year, the firm earned $0.67 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.00%. Embecta’s dividend payout ratio is presently 66.67%.

Insider Buying and Selling

In other news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the sale, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Embecta

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Embecta by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company’s stock valued at $145,076,000 after purchasing an additional 28,031 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Embecta by 19.8% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company’s stock worth $67,537,000 after buying an additional 540,192 shares in the last quarter. American Century Companies Inc. grew its stake in Embecta by 8.0% in the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company’s stock valued at $67,359,000 after acquiring an additional 242,668 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Embecta during the 4th quarter valued at about $15,270,000. Finally, Northern Trust Corp raised its position in Embecta by 10.5% during the fourth quarter. Northern Trust Corp now owns 700,972 shares of the company’s stock worth $14,475,000 after acquiring an additional 66,367 shares during the last quarter. 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.