Embecta (NASDAQ:EMBC) Hits New 12-Month Low at $10.09

Embecta Corp. (NASDAQ:EMBC)’s stock price hit a new 52-week low on Monday . The stock traded as low as $10.09 and last traded at $10.16, with a volume of 52977 shares changing hands. The stock had previously closed at $10.25.

Embecta Price Performance

The stock’s 50-day simple moving average is $13.67 and its two-hundred day simple moving average is $15.67. The firm has a market capitalization of $595.95 million, a P/E ratio of 10.89 and a beta of 0.73.

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. The company had revenue of $277.30 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.93 EPS. On average, analysts forecast that Embecta Corp. will post 2.14 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Tuesday, February 27th. Embecta’s dividend payout ratio (DPR) is 63.16%.

Insider Transactions at Embecta

In other Embecta news, Director David F. Melcher acquired 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $16.25 per share, with a total value of $32,500.00. Following the completion of the purchase, the director now directly owns 45,080 shares in the company, valued at approximately $732,550. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Embecta

Several institutional investors have recently added to or reduced their stakes in EMBC. Vanguard Group Inc. purchased a new position in Embecta during the 3rd quarter valued at approximately $197,911,000. River Road Asset Management LLC purchased a new position in Embecta during the 3rd quarter valued at approximately $39,333,000. State Street Corp purchased a new position in Embecta during the 3rd quarter valued at approximately $68,114,000. Krensavage Asset Management LLC purchased a new position in Embecta during the 1st quarter valued at approximately $29,867,000. Finally, Bank of New York Mellon Corp purchased a new position in Embecta during the 3rd quarter valued at approximately $29,545,000. Hedge funds and other 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 injection devices, as well as digital applications to assist people with managing patient's diabetes.