Embecta Corp. (NASDAQ:EMBC) Director Purchases $98,294.41 in Stock

Embecta Corp. (NASDAQ:EMBC) Director David F. Melcher acquired 6,233 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $15.77 per share, with a total value of $98,294.41. Following the purchase, the director now directly owns 27,698 shares in the company, valued at approximately $436,797.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Embecta Stock Up 1.5 %

Shares of NASDAQ EMBC opened at $15.94 on Monday. The company has a market cap of $913.43 million, a PE ratio of 19.68 and a beta of 0.49. The firm’s 50-day moving average price is $19.67 and its 200-day moving average price is $25.16. Embecta Corp. has a 52-week low of $15.20 and a 52-week high of $36.64.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.23. Embecta had a net margin of 4.24% and a negative return on equity of 21.04%. The company had revenue of $286.10 million for the quarter, compared to the consensus estimate of $275.07 million. During the same quarter last year, the firm posted $1.07 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Embecta Corp. will post 2.84 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Friday, August 25th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, August 24th. Embecta’s payout ratio is currently 74.07%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on shares of Embecta from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, August 24th.

Institutional Investors Weigh In On Embecta

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in Embecta by 62.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock worth $30,000 after purchasing an additional 528 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Embecta by 56.1% during the first quarter. Fifth Third Bancorp now owns 1,464 shares of the company’s stock valued at $41,000 after purchasing an additional 526 shares during the period. Bessemer Group Inc. lifted its stake in Embecta by 27.6% in the second quarter. Bessemer Group Inc. now owns 2,396 shares of the company’s stock worth $51,000 after acquiring an additional 518 shares during the period. Tower Research Capital LLC TRC lifted its stake in Embecta by 493.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock worth $64,000 after acquiring an additional 1,896 shares during the period. Finally, State of Wyoming raised its holdings in Embecta by 56.6% in the second quarter. State of Wyoming now owns 3,982 shares of the company’s stock worth $86,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

About Embecta

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 devices, as well as digital applications to assist people with managing patient's diabetes.