Embecta (NASDAQ:EMBC) Shares Up 3.5%

Embecta Corp. (NASDAQ:EMBC)’s stock price shot up 3.5% during mid-day trading on Friday . The company traded as high as $10.78 and last traded at $10.71. 70,660 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 406,980 shares. The stock had previously closed at $10.35.

Embecta Stock Performance

The firm has a market capitalization of $611.50 million, a price-to-earnings ratio of 11.18 and a beta of 0.73. The business’s 50 day moving average is $13.13 and its 200-day moving average is $15.53.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.15. The company had revenue of $277.30 million for the quarter, compared to analyst estimates of $264.92 million. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. Equities research analysts forecast that Embecta Corp. will post 2.14 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th were given a $0.15 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.60 annualized dividend and a yield of 5.65%. Embecta’s dividend payout ratio is 63.16%.

Insiders Place Their Bets

In related news, Director David F. Melcher purchased 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $16.25 per share, for a total transaction of $32,500.00. Following the transaction, the director now directly owns 45,080 shares of the company’s stock, valued at approximately $732,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

Institutional Trading of Embecta

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in shares of Embecta by 62.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock valued at $30,000 after acquiring an additional 528 shares in the last quarter. Signaturefd LLC boosted its position in shares of Embecta by 1,254.4% during the 3rd quarter. Signaturefd LLC now owns 2,316 shares of the company’s stock valued at $35,000 after acquiring an additional 2,145 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Embecta by 187.9% during the 3rd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $44,000 after acquiring an additional 1,811 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Embecta during the third quarter worth approximately $44,000. Finally, Allworth Financial LP raised its stake in shares of Embecta by 200.1% during the third quarter. Allworth Financial LP now owns 3,280 shares of the company’s stock worth $49,000 after buying an additional 2,187 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.