Embecta (NASDAQ:EMBC) Shares Gap Up to $10.27

Embecta Corp. (NASDAQ:EMBC) gapped up before the market opened on Thursday . The stock had previously closed at $10.27, but opened at $13.28. Embecta shares last traded at $14.35, with a volume of 560,936 shares traded.

Embecta Trading Up 33.2 %

The business has a 50 day moving average of $12.05 and a 200-day moving average of $15.14. The firm has a market capitalization of $787.68 million, a P/E ratio of 10.81 and a beta of 0.86.

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

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.60 annualized dividend and a yield of 4.39%. Embecta’s dividend payout ratio (DPR) is presently 63.16%.

Insider Buying and Selling at Embecta

In other news, Director David F. Melcher purchased 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $16.25 per share, with a total value of $32,500.00. Following the completion of the transaction, the director now owns 45,080 shares of the company’s stock, valued at approximately $732,550. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Embecta

Several institutional investors and hedge funds have recently modified their holdings of EMBC. SummerHaven Investment Management LLC boosted its holdings in shares of Embecta by 1.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 34,483 shares of the company’s stock worth $653,000 after buying an additional 629 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Embecta by 2.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,564 shares of the company’s stock worth $460,000 after acquiring an additional 834 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Embecta by 66.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,284 shares of the company’s stock valued at $34,000 after purchasing an additional 910 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of Embecta by 2.0% during the third quarter. Dark Forest Capital Management LP now owns 48,430 shares of the company’s stock worth $729,000 after purchasing an additional 943 shares during the period. Finally, Swiss National Bank lifted its holdings in Embecta by 0.9% during the 3rd quarter. Swiss National Bank now owns 125,920 shares of the company’s stock worth $1,895,000 after purchasing an additional 1,100 shares during the last quarter. 93.83% of the stock is currently 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.