Embecta (NASDAQ:EMBC) Trading 4.3% Higher – Should You Buy?

Embecta Corp. (NASDAQ:EMBC)’s stock price shot up 4.3% during mid-day trading on Monday . The company traded as high as $13.16 and last traded at $13.30. 158,842 shares were traded during mid-day trading, a decline of 61% from the average session volume of 407,890 shares. The stock had previously closed at $12.75.

Wall Street Analyst Weigh In

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

Embecta Stock Performance

The firm has a market capitalization of $807.83 million, a P/E ratio of 13.90, a PEG ratio of 0.78 and a beta of 1.27. The company has a 50-day simple moving average of $17.06 and a two-hundred day simple moving average of $16.51.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, research analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, February 28th. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insider Activity

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the sale, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of Embecta

Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares during the period. Quarry LP bought a new position in Embecta in the third quarter worth approximately $30,000. Sterling Capital Management LLC raised its position in Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock worth $35,000 after acquiring an additional 1,497 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Embecta during the 4th quarter valued at $53,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in shares of Embecta in the 4th quarter worth $77,000. 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.