Embecta (NASDAQ:EMBC) Stock Price Down 7.3% – Should You Sell?

Embecta Corp. (NASDAQ:EMBC)’s share price was down 7.3% on Thursday . The stock traded as low as $15.13 and last traded at $15.13. Approximately 106,012 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 403,354 shares. The stock had previously closed at $16.33.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price target on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, July 15th.

Embecta Price Performance

The firm’s 50-day simple moving average is $14.66 and its 200 day simple moving average is $13.65. The firm has a market capitalization of $882.23 million, a price-to-earnings ratio of 12.80 and a beta of 0.97.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The company had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. During the same period in the previous year, the firm posted $0.69 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. As a group, research analysts predict that Embecta Corp. will post 2.43 earnings per share for the current year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s payout ratio is 50.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new position in Embecta in the 3rd quarter valued at approximately $43,000. Iat Reinsurance Co. LTD. bought a new position in Embecta during the 2nd quarter worth $50,000. CWM LLC lifted its holdings in Embecta by 773.8% during the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after buying an additional 8,040 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Embecta in the 2nd quarter valued at about $140,000. Finally, Cardinal Capital Management increased its stake in shares of Embecta by 16.8% in the second quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock valued at $147,000 after buying an additional 1,691 shares during the period. Institutional investors own 93.83% of the company’s stock.

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.