Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris Sells 3,100 Shares

Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Embecta Trading Down 8.0 %

NASDAQ:EMBC opened at $14.85 on Friday. The firm has a 50 day moving average of $19.22 and a 200-day moving average of $16.56. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The stock has a market capitalization of $863.23 million, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, analysts forecast that Embecta Corp. will post 2.87 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.04%. Embecta’s payout ratio is presently 60.00%.

Institutional Trading of Embecta

Several large investors have recently made changes to their positions in EMBC. The Manufacturers Life Insurance Company raised its stake in shares of Embecta by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after acquiring an additional 1,025 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Embecta in the third quarter worth $207,000. CWM LLC grew its holdings in shares of Embecta by 11.3% during the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after buying an additional 1,023 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Embecta during the third quarter valued at about $413,000. Finally, Inspire Advisors LLC lifted its position in shares of Embecta by 108.3% during the third quarter. Inspire Advisors LLC now owns 31,169 shares of the company’s stock valued at $439,000 after purchasing an additional 16,207 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

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.