Embecta Corp. (EMBC) to Issue Quarterly Dividend of $0.15 on March 15th

Embecta Corp. (NASDAQ:EMBCGet Free Report) announced a quarterly dividend on Friday, February 9th, Zacks reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.15 per share on Friday, March 15th. This represents a $0.60 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, February 27th.

Embecta has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Embecta to earn $2.29 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 26.2%.

Embecta Trading Down 8.5 %

Shares of EMBC stock opened at $16.26 on Friday. Embecta has a 12-month low of $12.72 and a 12-month high of $33.88. The firm’s 50 day moving average is $17.75 and its 200 day moving average is $17.25. The stock has a market capitalization of $935.80 million, a P/E ratio of 17.11 and a beta of 0.86.

Embecta (NASDAQ:EMBCGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. Embecta had a net margin of 6.28% and a negative return on equity of 20.56%. The firm had revenue of $277.30 million during the quarter, compared to the consensus estimate of $264.92 million. During the same quarter in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts predict that Embecta will post 2.12 earnings per share for the current year.

Hedge Funds Weigh In On Embecta

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG bought a new position in Embecta in the 3rd quarter worth about $806,000. Dimensional Fund Advisors LP bought a new position in Embecta in the 3rd quarter worth about $6,513,000. Envestnet Asset Management Inc. bought a new position in Embecta in the 3rd quarter worth about $226,000. Nuveen Asset Management LLC bought a new position in Embecta in the 3rd quarter worth about $5,254,000. Finally, Renaissance Technologies LLC bought a new position in Embecta in the 3rd quarter worth about $3,095,000. 93.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EMBC shares. Wolfe Research began coverage on shares of Embecta in a research note on Friday, October 20th. They set a “peer perform” rating on the stock. Morgan Stanley boosted their price target on shares of Embecta from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 22nd.

Check Out Our Latest Stock Analysis on Embecta

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.

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Dividend History for Embecta (NASDAQ:EMBC)

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