Embecta Corp. Announces Quarterly Dividend of $0.15 (NASDAQ:EMBC)

Embecta Corp. (NASDAQ:EMBC) declared a quarterly dividend on Tuesday, November 26th,RTT News reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.15 per share on Wednesday, December 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%.

Embecta has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Embecta to earn $2.28 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 26.3%.

Embecta Price Performance

Embecta stock traded up $0.55 during mid-day trading on Wednesday, reaching $19.25. 87,420 shares of the company traded hands, compared to its average volume of 406,599. Embecta has a 52-week low of $9.93 and a 52-week high of $20.80. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 15.58 and a beta of 0.97. The firm’s 50 day moving average price is $14.38 and its 200 day moving average price is $14.07.

Analyst Ratings Changes

Separately, BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Wednesday.

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.