Embecta (NASDAQ:EMBC) Announces Quarterly Earnings Results

Embecta (NASDAQ:EMBCGet Free Report) issued its quarterly earnings data on Friday. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15, MarketWatch Earnings reports. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The business had revenue of $277.30 million during the quarter, compared to analyst estimates of $264.92 million. During the same period in the prior year, the company posted $0.93 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Embecta updated its FY 2024 guidance to 1.950-2.150 EPS.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $16.25 on Monday. Embecta has a one year low of $12.72 and a one year high of $33.88. The stock has a fifty day moving average of $17.75 and a 200-day moving average of $17.23. The company has a market capitalization of $935.51 million, a PE ratio of 17.11 and a beta of 0.86.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.69%. Embecta’s dividend payout ratio (DPR) is presently 63.16%.

Institutional Investors Weigh In On Embecta

A number of institutional investors and hedge funds have recently modified their holdings of EMBC. Vanguard Group Inc. purchased a new stake in shares of Embecta in the third quarter valued at $197,911,000. State Street Corp purchased a new stake in shares of Embecta during the third quarter worth $68,114,000. Krensavage Asset Management LLC purchased a new stake in shares of Embecta during the first quarter worth $29,867,000. Bank of New York Mellon Corp purchased a new stake in shares of Embecta during the third quarter worth $29,545,000. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Embecta by 23.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,034,985 shares of the company’s stock worth $102,045,000 after acquiring an additional 762,630 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on EMBC shares. Morgan Stanley increased their price target on Embecta from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, November 22nd. Wolfe Research started coverage on Embecta in a research note on Friday, October 20th. They set a “peer perform” rating for the company.

Check Out Our Latest Report on Embecta

About Embecta

(Get Free Report)

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.

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Earnings History for Embecta (NASDAQ:EMBC)

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