Embecta (NASDAQ:EMBC) Posts Earnings Results, Beats Estimates By $0.15 EPS

Embecta (NASDAQ:EMBCGet Free Report) posted its earnings results on Friday. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15, MarketWatch Earnings reports. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The firm had revenue of $277.30 million during the quarter, compared to the consensus estimate of $264.92 million. During the same period in the prior year, the company earned $0.93 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Embecta updated its FY 2024 guidance to 1.950-2.150 EPS.

Embecta Stock Down 8.5 %

EMBC stock opened at $16.25 on Monday. The business’s fifty day simple moving average is $17.75 and its two-hundred day simple moving average is $17.23. Embecta has a twelve month low of $12.72 and a twelve month high of $33.88. The firm has a market cap of $935.51 million, a price-to-earnings ratio of 17.11 and a beta of 0.86.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 3.69%. Embecta’s payout ratio is 63.16%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EMBC. Wolfe Research assumed coverage on Embecta in a report on Friday, October 20th. They set a “peer perform” rating on the stock. Morgan Stanley increased their target price on Embecta from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 22nd.

Read Our Latest Research Report on Embecta

Hedge Funds Weigh In On Embecta

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its position in shares of Embecta by 374.9% during the 4th quarter. US Bancorp DE now owns 16,745 shares of the company’s stock worth $317,000 after buying an additional 13,219 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Embecta by 23.5% during the 4th quarter. Corient Private Wealth LLC now owns 15,297 shares of the company’s stock worth $290,000 after buying an additional 2,913 shares in the last quarter. UBS Group AG grew its position in shares of Embecta by 63.3% during the 4th quarter. UBS Group AG now owns 46,328 shares of the company’s stock worth $877,000 after buying an additional 17,957 shares in the last quarter. Deutsche Bank AG grew its position in shares of Embecta by 7.4% during the 3rd quarter. Deutsche Bank AG now owns 36,474 shares of the company’s stock worth $549,000 after buying an additional 2,505 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Embecta during the 3rd quarter worth $2,235,000. Institutional investors own 93.83% of the company’s stock.

About Embecta

(Get Free Report)

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.

Featured Stories

Earnings History for Embecta (NASDAQ:EMBC)

Receive News & Ratings for Embecta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Embecta and related companies with MarketBeat.com's FREE daily email newsletter.