Embecta (NASDAQ:EMBC) Hits New 12-Month High – Here’s What Happened

Embecta Corp. (NASDAQ:EMBC)’s stock price reached a new 52-week high on Monday . The company traded as high as $21.47 and last traded at $21.47, with a volume of 2625 shares changing hands. The stock had previously closed at $20.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $20.00 in a research note on Monday. 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.

Embecta Price Performance

The stock has a fifty day simple moving average of $14.90 and a two-hundred day simple moving average of $14.29. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.14 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $286.10 million during the quarter, compared to analyst estimates of $276.97 million. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. Embecta’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts expect that Embecta Corp. will post 2.78 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.94%. Embecta’s dividend payout ratio (DPR) is presently 44.44%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Embecta in the third quarter valued at approximately $30,000. Copeland Capital Management LLC acquired a new stake in Embecta in the 3rd quarter valued at $43,000. Iat Reinsurance Co. LTD. bought a new stake in Embecta during the 2nd quarter valued at $50,000. CWM LLC raised its holdings in Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after buying an additional 8,040 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Embecta in the second quarter valued at $140,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Company Profile

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.