Embecta Corp. (EMBC) To Go Ex-Dividend on December 6th

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Tuesday, November 26th,RTT News reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.15 per share on Wednesday, December 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, December 6th.

Embecta has a payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $2.28 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 26.3%.

Embecta Stock Performance

NASDAQ EMBC opened at $20.59 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 17.16 and a beta of 0.97. Embecta has a one year low of $9.93 and a one year high of $20.80. The stock has a 50 day moving average price of $14.38 and a 200-day moving average price of $14.07.

Analyst Ratings Changes

Separately, BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday.

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.