Embecta (NASDAQ:EMBC) Stock Price Up 4.6% – Time to Buy?

Embecta Corp. (NASDAQ:EMBC)’s share price traded up 4.6% on Tuesday . The stock traded as high as $11.87 and last traded at $12.15. 31,561 shares were traded 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 started coverage on shares of Embecta in a research note on Thursday, April 10th. They issued a “neutral” rating and a $15.00 target price on the stock.

Embecta Stock Performance

The company has a 50-day moving average of $12.25 and a 200 day moving average of $15.62. The firm has a market cap of $721.77 million, a P/E ratio of 12.35, a P/E/G ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The company had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. Sell-side analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.60 annualized dividend and a yield of 4.86%. Embecta’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EMBC. Oppenheimer Asset Management Inc. acquired a new stake in Embecta during the 4th quarter valued at $209,000. Bank of New York Mellon Corp grew its holdings in shares of Embecta by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock worth $14,155,000 after purchasing an additional 4,769 shares during the last quarter. Amundi increased its stake in shares of Embecta by 161.2% in the fourth quarter. Amundi now owns 32,287 shares of the company’s stock valued at $655,000 after buying an additional 19,925 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Embecta by 41.4% in the fourth quarter. Prudential Financial Inc. now owns 154,580 shares of the company’s stock valued at $3,192,000 after buying an additional 45,290 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Embecta by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company’s stock worth $145,076,000 after buying an additional 28,031 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

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.