Embecta (NASDAQ:EMBC) Releases FY 2024 Earnings Guidance

Embecta (NASDAQ:EMBCGet Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.950-2.150 for the period, compared to the consensus estimate of 2.000. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion.

Embecta Stock Performance

NASDAQ EMBC opened at $16.25 on Monday. The firm has a 50 day simple moving average of $17.75 and a 200-day simple moving average of $17.23. Embecta has a one year low of $12.72 and a one year high of $33.88. The firm has a market cap of $935.51 million, a price-to-earnings ratio of 17.11 and a beta of 0.86.

Embecta (NASDAQ:EMBCGet Free Report) last issued its earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. The firm had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $264.92 million. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Equities analysts predict that Embecta will post 2.12 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th will be issued 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 yield of 3.69%. Embecta’s payout ratio is currently 63.16%.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on Embecta

Hedge Funds Weigh In On Embecta

A number of hedge funds and other institutional investors have recently bought and sold shares of EMBC. The Manufacturers Life Insurance Company boosted its position in shares of Embecta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,105 shares of the company’s stock worth $584,000 after purchasing an additional 403 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Embecta by 62.4% during the 2nd 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. Deutsche Bank AG raised its stake in shares of Embecta by 1.6% during the 4th quarter. Deutsche Bank AG now owns 37,918 shares of the company’s stock worth $959,000 after buying an additional 604 shares during the last quarter. Credit Suisse AG raised its stake in shares of Embecta by 1.6% during the 1st quarter. Credit Suisse AG now owns 52,393 shares of the company’s stock worth $1,473,000 after buying an additional 813 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Embecta by 5.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 18,382 shares of the company’s stock worth $397,000 after buying an additional 1,015 shares during the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Company Profile

(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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