Embecta Corp. (NASDAQ:EMBC) Declares $0.15 Quarterly Dividend

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, February 28th.

Embecta has a dividend payout ratio of 19.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 19.4%.

Embecta Price Performance

Shares of NASDAQ:EMBC opened at $17.42 on Friday. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The stock has a market cap of $1.01 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.95 and a beta of 1.20. The firm has a fifty day moving average price of $19.65 and a 200 day moving average price of $16.53.

Embecta (NASDAQ:EMBC) last announced its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share 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%. Sell-side analysts expect that Embecta will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on EMBC. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $13.00 to $20.00 in a report on Monday, December 2nd. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, November 27th.

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.