Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris Sells 3,100 Shares

Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The stock was 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. This represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Embecta Stock Down 8.0 %

NASDAQ EMBC opened at $14.85 on Friday. The company’s 50 day moving average is $19.22 and its 200-day moving average is $16.56. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48. The firm has a market cap of $863.23 million, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Equities analysts expect that Embecta Corp. will post 2.87 EPS for the current year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.04%. Embecta’s dividend payout ratio is currently 60.00%.

Hedge Funds Weigh In On Embecta

Hedge funds have recently bought and sold shares of the company. Garden State Investment Advisory Services LLC purchased a new position in Embecta in the 3rd quarter worth approximately $438,000. Barclays PLC grew its stake in Embecta by 41.1% in the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after buying an additional 28,523 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Embecta in the 3rd quarter valued at $594,000. Jane Street Group LLC boosted its stake in shares of Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after purchasing an additional 107,567 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after purchasing an additional 45,228 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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 shares of Embecta from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

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.