Embecta (NASDAQ:EMBC) Trading 4.4% Higher – Should You Buy?

Embecta Corp. (NASDAQ:EMBC)’s share price was up 4.4% during mid-day trading on Monday . The stock traded as high as $12.72 and last traded at $12.82. 307,456 shares traded hands during trading, a decline of 30% from the average session volume of 439,901 shares. The stock had previously closed at $12.28.

Embecta Price Performance

The company’s 50-day moving average price is $15.02 and its two-hundred day moving average price is $16.23. The company has a market capitalization of $727.84 million, a price-to-earnings ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. On average, equities research analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date was Friday, February 28th. Embecta’s dividend payout ratio is currently 60.00%.

Insider Buying and Selling at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Embecta

Several institutional investors have recently modified their holdings of EMBC. Intech Investment Management LLC bought a new position in Embecta during the third quarter valued at about $211,000. Rockefeller Capital Management L.P. grew its stake in shares of Embecta by 3.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 90,072 shares of the company’s stock worth $1,270,000 after acquiring an additional 3,231 shares during the period. Verition Fund Management LLC increased its stake in shares of Embecta by 45.3% in the third quarter. Verition Fund Management LLC now owns 17,682 shares of the company’s stock worth $249,000 after purchasing an additional 5,511 shares in the last quarter. Quarry LP purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $30,000. Finally, Jane Street Group LLC boosted its holdings 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 during the period. 93.83% of the stock is owned by institutional investors.

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.