Embecta (NASDAQ:EMBC) Releases FY 2024 Earnings Guidance

Embecta (NASDAQ:EMBC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.200-2.300 for the period, compared to the consensus earnings per share estimate of 2.100. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion.

Embecta Stock Up 29.1 %

Shares of NASDAQ EMBC traded up $2.99 during trading on Thursday, hitting $13.26. The company had a trading volume of 1,964,786 shares, compared to its average volume of 424,386. The firm has a market capitalization of $763.50 million, a price-to-earnings ratio of 14.40 and a beta of 0.86. The stock has a fifty day simple moving average of $12.05 and a two-hundred day simple moving average of $15.14. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $32.00.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The firm had revenue of $277.30 million for the quarter, compared to analyst estimates of $264.92 million. During the same period last year, the company posted $0.93 EPS. Embecta’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that Embecta will post 2.14 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.52%. The ex-dividend date was Tuesday, February 27th. Embecta’s dividend payout ratio is currently 63.16%.

Insiders Place Their Bets

In other Embecta news, Director David F. Melcher bought 2,000 shares of Embecta stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $16.25 per share, for a total transaction of $32,500.00. Following the completion of the transaction, the director now directly owns 45,080 shares of the company’s stock, valued at $732,550. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

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.