Embecta (NASDAQ:EMBC) Shares Down 4% – Should You Sell?

Embecta Corp. (NASDAQ:EMBC) fell 4% during trading on Wednesday . The company traded as low as $19.30 and last traded at $19.30. 211,599 shares were traded during trading, a decline of 50% from the average session volume of 420,100 shares. The stock had previously closed at $20.10.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Stock Down 2.7 %

The stock’s 50 day moving average is $18.66 and its 200-day moving average is $15.85. The company has a market cap of $1.14 billion, a PE ratio of 14.48, a P/E/G ratio of 1.06 and a beta of 1.23.

Embecta (NASDAQ:EMBC) last announced its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $286.10 million for the quarter, compared to analysts’ expectations of $276.97 million. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, analysts anticipate that Embecta Corp. will post 2.84 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, December 6th. Embecta’s dividend payout ratio (DPR) is 44.44%.

Institutional Trading of Embecta

Several hedge funds and other institutional investors have recently bought and sold shares of EMBC. Quarry LP purchased a new position in Embecta during the third quarter worth $30,000. Copeland Capital Management LLC bought a new stake in shares of Embecta in the 3rd quarter worth about $43,000. Canada Pension Plan Investment Board purchased a new position in shares of Embecta during the 2nd quarter worth about $140,000. CWM LLC grew its holdings in Embecta by 11.3% during the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Embecta during the 2nd quarter valued at about $201,000. 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.