Embecta (NASDAQ:EMBC) Coverage Initiated at Mizuho

Mizuho initiated coverage on shares of Embecta (NASDAQ:EMBC) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $15.00 price target on the stock.

Embecta Trading Up 2.4 %

Shares of EMBC opened at $12.30 on Thursday. The company has a market cap of $715.05 million, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.78 and a beta of 1.23. The business’s fifty day simple moving average is $13.73 and its two-hundred day simple moving average is $15.98. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, research analysts forecast that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 4.88%. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insiders Place Their Bets

In other news, Director Milton Mayo Morris sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EMBC. William Blair Investment Management LLC purchased a new stake in shares of Embecta during the 4th quarter valued at about $15,270,000. Deerfield Management Company L.P. Series C increased its holdings in Embecta by 19.8% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company’s stock valued at $67,537,000 after buying an additional 540,192 shares during the last quarter. Raymond James Financial Inc. bought a new position in Embecta in the fourth quarter worth approximately $6,598,000. American Century Companies Inc. boosted its stake in shares of Embecta by 8.0% during the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company’s stock worth $67,359,000 after acquiring an additional 242,668 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Embecta during the 4th quarter valued at $4,043,000. 93.83% of the stock is owned by hedge funds and other 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.