Embecta Corp. (NASDAQ:EMBC) Plans Quarterly Dividend of $0.15

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Tuesday, November 26th,RTT News reports. Investors of record on Friday, December 6th will be given a dividend of 0.15 per share on Wednesday, December 18th. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%.

Embecta has a payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Embecta to earn $2.28 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 26.3%.

Embecta Stock Performance

Shares of EMBC traded up $0.55 during trading hours on Wednesday, hitting $19.25. The stock had a trading volume of 87,420 shares, compared to its average volume of 406,599. The firm has a 50-day moving average price of $14.38 and a 200 day moving average price of $14.07. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $20.80. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.58 and a beta of 0.97.

Analyst Upgrades and Downgrades

Separately, BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday.

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.