Embecta (NASDAQ:EMBC) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Embecta (NASDAQ:EMBCGet Free Report) posted its quarterly earnings data on Friday. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15, MarketWatch Earnings reports. Embecta had a net margin of 6.28% and a negative return on equity of 20.56%. The company had revenue of $277.30 million for the quarter, compared to analyst estimates of $264.92 million. During the same period in the prior year, the firm posted $0.93 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Embecta updated its FY 2024 guidance to 1.950-2.150 EPS.

Embecta Stock Down 8.5 %

Embecta stock opened at $16.26 on Friday. The firm’s fifty day moving average is $17.75 and its 200 day moving average is $17.25. Embecta has a 12-month low of $12.72 and a 12-month high of $33.88. The company has a market capitalization of $935.80 million, a PE ratio of 17.11 and a beta of 0.86.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors 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 payout ratio is presently 63.16%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EMBC. Public Employees Retirement System of Ohio raised its holdings in Embecta by 62.4% during the second quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock worth $30,000 after buying an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Embecta by 493.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock worth $64,000 after buying an additional 1,896 shares during the last quarter. State of Wyoming raised its holdings in Embecta by 56.6% during the second quarter. State of Wyoming now owns 3,982 shares of the company’s stock worth $86,000 after buying an additional 1,440 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Embecta by 853.9% during the fourth quarter. Meeder Asset Management Inc. now owns 5,113 shares of the company’s stock worth $129,000 after buying an additional 4,577 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Embecta by 728.7% during the first quarter. Russell Investments Group Ltd. now owns 6,820 shares of the company’s stock worth $192,000 after buying an additional 5,997 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analysts Set New Price Targets

EMBC has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Embecta from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, November 22nd. Wolfe Research initiated coverage on shares of Embecta in a research note on Friday, October 20th. They issued a “peer perform” rating on the stock.

Get Our Latest Stock Report on EMBC

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.

Further Reading

Earnings History for Embecta (NASDAQ:EMBC)

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