Embecta (NASDAQ:EMBC) Issues FY 2024 Earnings Guidance

Embecta (NASDAQ:EMBCGet Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.950-2.150 for the period, compared to the consensus EPS estimate of 2.000. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion.

Analyst Ratings Changes

Several research firms have commented on EMBC. Wolfe Research began coverage on shares of Embecta in a research note on Friday, October 20th. They issued a peer perform rating for the company. Morgan Stanley raised their price target on shares of Embecta from $15.00 to $16.00 and gave the stock an underweight rating in a research note on Wednesday, November 22nd.

Get Our Latest Report on Embecta

Embecta Trading Down 8.5 %

EMBC opened at $16.25 on Monday. The company has a 50 day moving average of $17.75 and a 200 day moving average of $17.23. The company has a market cap of $935.51 million, a PE ratio of 17.11 and a beta of 0.86. Embecta has a 12 month low of $12.72 and a 12 month high of $33.88.

Embecta (NASDAQ:EMBCGet Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.46 by $0.15. The company had revenue of $277.30 million during the quarter, compared to the consensus estimate of $264.92 million. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. Embecta’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. Research analysts forecast that Embecta will post 2.12 earnings per share for the current fiscal year.

Embecta Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Embecta by 1.2% in the 2nd quarter. BlackRock Inc. now owns 9,083,898 shares of the company’s stock valued at $196,212,000 after purchasing an additional 107,792 shares during the period. Vanguard Group Inc. bought a new stake in shares of Embecta during the 3rd quarter worth $197,911,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Embecta by 23.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,034,985 shares of the company’s stock worth $102,045,000 after acquiring an additional 762,630 shares during the last quarter. State Street Corp lifted its holdings in shares of Embecta by 7.6% during the 2nd quarter. State Street Corp now owns 2,439,241 shares of the company’s stock worth $52,688,000 after acquiring an additional 171,634 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Embecta by 14.9% during the 4th quarter. Millennium Management LLC now owns 1,288,273 shares of the company’s stock worth $32,580,000 after acquiring an additional 167,277 shares during the last quarter. 93.83% of the stock is owned by institutional investors.

Embecta Company Profile

(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.

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