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

Embecta Corp. (NASDAQ:EMBC) announced a quarterly dividend on Tuesday, November 26th,RTT News reports. Investors of record on Friday, December 6th will be given a dividend of 0.15 per share on Wednesday, December 18th. This represents a $0.60 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, December 6th.

Embecta has a dividend payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NASDAQ:EMBC opened at $20.59 on Thursday. The stock’s fifty day moving average is $14.38 and its 200 day moving average is $14.07. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $20.80. The firm has a market capitalization of $1.19 billion, a PE ratio of 17.16 and a beta of 0.97.

Analyst Upgrades and Downgrades

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

About Embecta

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.