Embecta (NASDAQ:EMBC) Trading Up 4.6% – Here’s Why

Embecta Corp. (NASDAQ:EMBC)’s share price traded up 4.6% during trading on Tuesday . The company traded as high as $11.87 and last traded at $12.15. 31,561 shares changed hands during trading, a decline of 93% from the average session volume of 450,065 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

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

Embecta Price Performance

The firm has a fifty day moving average price of $12.28 and a two-hundred day moving average price of $15.67. The stock has a market capitalization of $716.98 million, a PE ratio of 12.27, a P/E/G ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same quarter last year, the firm posted $0.67 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. On average, research analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

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. This represents a $0.60 annualized dividend and a yield of 4.89%. The ex-dividend date is Wednesday, May 28th. Embecta’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Embecta

A number of hedge funds have recently added to or reduced their stakes in EMBC. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 774 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Embecta by 9.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company’s stock valued at $140,000 after purchasing an additional 907 shares during the period. Victory Capital Management Inc. lifted its position in Embecta by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after purchasing an additional 923 shares during the period. Inspire Advisors LLC boosted its position in Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company’s stock worth $667,000 after purchasing an additional 1,138 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Embecta by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,323 shares of the company’s stock worth $629,000 after purchasing an additional 1,159 shares during the period. 93.83% of the stock is currently owned by institutional investors.

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.