Embecta Corp. Director Milton Mayo Morris Sells Shares

Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris has sold 3,100 shares of the company's stock in a transaction that took place on Thursday, February 13th. The shares were sold at an average price of $16.38, totaling $50,778. Following this sale, Morris now owns 36,133 shares of Embecta, valued at approximately $591,858.54. This sale represents a 7.90% decrease in his overall shareholding. The details of this transaction were made public in a filing with the Securities and Exchange Commission (SEC), which is accessible through the SEC website.

Embecta Stock Performance

During trading on Friday, Embecta's shares declined by $1.30 to reach $14.85. The stock experienced a trading volume of 554,641 shares, significantly higher than its average volume of 413,261. Currently, Embecta has a market capitalization of $863.23 million, a PE ratio of 14.85, a P/E/G ratio of 0.95, and a beta value of 1.20. The company's stock has shown a 52-week low of $9.93 and a high of $21.48. The fifty-day simple moving average stands at $19.22, with the two-hundred day simple moving average at $16.56.

On February 6th, Embecta Corp. announced its quarterly earnings. The company reported earnings per share (EPS) of $0.65, which exceeded analysts' expectations of $0.45 by $0.20. Embecta recorded a negative return on equity of 19.22% and a net profit margin of 5.25%. Analysts predict that Embecta will report a total EPS of 2.87 for the current year.

Embecta Dividend Announcement

The company has also declared a quarterly dividend of $0.15, scheduled to be paid on March 14th. Shareholders who are on record as of February 28th will receive this dividend, marking an annualized dividend of $0.60 and a yield of 4.04%. The ex-dividend date is also set for February 28th. Embecta's payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently provided their insights on Embecta. Morgan Stanley upgraded its rating for the company from "underweight" to "equal weight" and revised its price target from $13.00 to $20.00. Additionally, BTIG Research increased Embecta's rating from "neutral" to "buy" and set an ambitious price target of $26.00.

Institutional Inflows and Outflows

Recently, hedge funds have adjusted their positions in Embecta. Smartleaf Asset Management LLC raised its stake by 175.1% during the fourth quarter, now owning 1,216 shares worth about $25,000. Victory Capital Management Inc. grew its holding by 5.6%, owning 17,489 shares valued at $361,000 after acquiring an additional 923 shares. CWM LLC also increased its stake by 11.3%, now holding 10,102 shares worth $142,000. Meanwhile, The Manufacturers Life Insurance Company raised its shareholding by 4.8%, with 22,212 shares worth $278,000. Inspire Advisors LLC increased its position by 3.7%, now owning 32,307 shares valued at approximately $667,000. Overall, institutional investors control 93.83% of Embecta's shares.

Embecta Company Profile

Embecta Corp. is a medical device company focused on providing solutions for individuals living with diabetes. The company's product range includes pen needles, syringes, safety injection devices, and digital tools to aid in diabetes management.

Embecta, Stock, Sale