Embecta Corp. Announces Quarterly Dividend of $0.15 (NASDAQ:EMBC)

Embecta Corp. (NASDAQ:EMBC) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Tuesday, May 28th will be paid a dividend of 0.15 per share on Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Tuesday, May 28th.

Embecta has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 27.1%.

Embecta Stock Down 2.8 %

EMBC stock traded down $0.39 during midday trading on Friday, reaching $13.77. The stock had a trading volume of 424,304 shares, compared to its average volume of 431,608. The business has a fifty day simple moving average of $12.05 and a two-hundred day simple moving average of $15.13. The firm has a market cap of $792.86 million, a price-to-earnings ratio of 14.72 and a beta of 0.86. Embecta has a twelve month low of $9.93 and a twelve month high of $32.00.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.24. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $264.70 million. During the same quarter in the previous year, the business posted $0.75 EPS. Embecta’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts predict that Embecta will post 2.14 earnings per share for the current fiscal year.

Insider Activity at Embecta

In other news, Director David F. Melcher purchased 2,000 shares of Embecta stock in a transaction that occurred on 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 purchase, the director now directly owns 45,080 shares of the company’s stock, valued at approximately $732,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Morgan Stanley decreased their target price on Embecta from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Friday.

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.