Embecta (NASDAQ:EMBC) Shares Gap Down – Here’s Why

Embecta Corp. (NASDAQ:EMBC)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.20, but opened at $17.24. Embecta shares last traded at $17.87, with a volume of 39,838 shares.

Wall Street Analysts Forecast Growth

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

Embecta Stock Performance

The stock has a 50 day moving average of $19.65 and a two-hundred day moving average of $16.53. The stock has a market cap of $1.01 billion, a PE ratio of 17.42, a PEG ratio of 0.95 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Analysts expect that Embecta Corp. will post 2.87 EPS for the current fiscal year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Garden State Investment Advisory Services LLC purchased a new position in Embecta during the 3rd quarter valued at about $438,000. Barclays PLC grew its position in Embecta by 41.1% during the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Jennison Associates LLC acquired a new position in Embecta in the 3rd quarter valued at approximately $594,000. Jane Street Group LLC lifted its position in Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after buying an additional 107,567 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Embecta by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after acquiring an additional 45,228 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

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.