Embecta Corp. (NASDAQ:EMBC – Get Free Report)’s stock price rose 4.6% on Friday following insider buying activity. The company traded as high as $22.16 and last traded at $21.78. Approximately 126,742 shares changed hands during trading, a decline of 80% from the average daily volume of 633,147 shares. The stock had previously closed at $20.82.
Specifically, CEO Devdatt Kurdikar acquired 5,000 shares of Embecta stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $21.81 per share, for a total transaction of $109,050.00. Following the completion of the purchase, the chief executive officer now directly owns 244,791 shares of the company’s stock, valued at approximately $5,338,891.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Devdatt Kurdikar acquired 5,000 shares of Embecta stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $21.81 per share, for a total transaction of $109,050.00. Following the completion of the purchase, the chief executive officer now directly owns 244,791 shares of the company’s stock, valued at approximately $5,338,891.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jacob Elguicze acquired 4,625 shares of Embecta stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $21.66 per share, for a total transaction of $100,177.50. Following the completion of the purchase, the chief financial officer now directly owns 66,027 shares of the company’s stock, valued at $1,430,144.82. The disclosure for this purchase can be found here. Insiders have bought 14,325 shares of company stock worth $311,077 over the last ninety days. 0.22% of the stock is owned by insiders.
Analyst Ratings Changes
Separately, Morgan Stanley cut their target price on Embecta from $29.00 to $19.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 18th.
Embecta Stock Up 0.0 %
The company has a market capitalization of $1.19 billion, a P/E ratio of 25.72 and a beta of 0.43. The business has a 50 day simple moving average of $22.58 and a 200-day simple moving average of $26.74.
Embecta (NASDAQ:EMBC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.23. The company had revenue of $286.10 million for the quarter, compared to analyst estimates of $275.07 million. Embecta had a negative return on equity of 21.04% and a net margin of 4.24%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. Equities analysts forecast that Embecta Corp. will post 2.78 EPS for the current fiscal year.
Embecta Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, August 24th. Embecta’s dividend payout ratio (DPR) is 74.07%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of EMBC. UBS Group AG acquired a new position in shares of Embecta during the third quarter valued at $806,000. Dimensional Fund Advisors LP acquired a new position in Embecta during the third quarter worth about $6,513,000. Envestnet Asset Management Inc. acquired a new position in Embecta during the third quarter worth about $226,000. Nuveen Asset Management LLC acquired a new position in Embecta during the third quarter worth about $5,254,000. Finally, Renaissance Technologies LLC acquired a new position in Embecta during the third quarter worth about $3,095,000. 96.80% 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 devices, as well as digital applications to assist people with managing patient's diabetes.
Featured Stories
- Five stocks we like better than Embecta
- What Is Dividend Yield and How Do You Calculate It?
- Investing in Coffee: 3 Great Strategies to Consider
- How to Invest in Social Media
- 5 Best Stocks to Buy in a Bear Market
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- 3 Pharmaceutical Stocks to Buy and Hold for the Long Haul
Receive News & Ratings for Embecta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Embecta and related companies with MarketBeat.com's FREE daily email newsletter.
