Embecta (NASDAQ:EMBC) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Embecta (NASDAQ:EMBC) posted its quarterly earnings data on Friday. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28, Briefing.com reports. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The company had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Embecta updated its FY 2024 guidance to 2.300-2.350 EPS and its FY24 guidance to $2.30-2.35 EPS.

Embecta Stock Down 4.2 %

Shares of EMBC opened at $14.75 on Tuesday. The stock has a market cap of $850.63 million, a P/E ratio of 12.19 and a beta of 0.99. The business’s fifty day moving average is $13.39 and its 200 day moving average is $13.33. Embecta has a 12-month low of $9.93 and a 12-month high of $21.05.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 4.07%. Embecta’s dividend payout ratio is 49.59%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley dropped their price objective on Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, July 15th.

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.