Welcome to our dedicated page for Embecta news (Ticker: EMBC), a resource for investors and traders seeking the latest updates and insights on Embecta stock.
Embecta Corp. (Nasdaq: EMBC) is a leading medical technology company, dedicated to developing innovative technologies, services, and solutions that advance clinical therapies for patients and enhance clinical processes for healthcare providers. The company’s core products include the BD Pyxis, PureWick, and Phasix, which have significantly impacted healthcare delivery and patient outcomes.
Embecta has recently celebrated an important milestone, marking 100 years since the development of the first syringe dedicated to insulin delivery. This heritage underscores its deep-rooted commitment to improving the lives of people with diabetes. Embecta’s global impact is further enhanced through partnerships with leading advocacy and professional groups, striving to raise awareness and provide better solutions for diabetes care.
Financially, Embecta has shown robust performance, consistently demonstrating strong revenue growth. The company's Board of Directors recently declared a quarterly cash dividend of $0.15 per share, payable on September 13, 2023. Embecta regularly evaluates its financial results on both a reported and Constant Currency basis to provide a clear picture of its operational performance, excluding the effects of currency fluctuations.
Embecta continues to spearhead significant projects and initiatives. For instance, its recent symposium at the Advanced Technologies & Treatments for Diabetes (ATTD) international conference showcased the company’s commitment to innovative insulin pump therapies for type 2 diabetes. Furthermore, Embecta has been proactive in responding to regulatory requirements like the EU MDR and GDPR, ensuring compliance while continuously improving its products and services.
With approximately 2,000 dedicated employees worldwide, Embecta leverages its rich legacy and innovative spirit to empower people with diabetes to live their best lives. Through strategic partnerships and a relentless focus on quality and reliability, Embecta remains at the forefront of diabetes care.
embecta (EMBC) has received FDA 510(k) clearance for its proprietary disposable insulin delivery system, designed for both type 1 and type 2 diabetes patients. The system features a tubeless patch pump with a 300-unit insulin reservoir, addressing the needs of type 2 diabetes patients who typically require higher daily insulin doses. This larger reservoir can meet the needs of 64% of adults with type 2 diabetes for three-day wear, compared to only 38% for a 200-unit reservoir.
The system includes a wearable, disposable patch pump and a controller with Bluetooth technology and a color touchscreen. embecta is also developing a closed-loop version with an insulin-dosing algorithm for future FDA submission. This milestone aligns with embecta's strategic priorities and vision of improving life for people with diabetes.
Embecta Corp. (EMBC), a global diabetes care company, has announced its participation in two upcoming investor events. The company will attend the 2024 Wells Fargo Healthcare Conference on September 4, hosting one-on-one investor meetings at the Encore Boston Harbor Hotel. Additionally, embecta will participate in the 2024 Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, where management will host a fireside session at 2:35 p.m. ET at the Marriott Marquis in New York.
These events provide opportunities for investors to engage with embecta's management and gain insights into the company's operations and strategy. Audio webcasts of the presentations will be available on embecta's investor relations website under the 'News & Events' section, allowing wider access to the company's updates and discussions.
Embecta Corp. (Nasdaq: EMBC) reported its third-quarter fiscal 2024 results with revenues of $272.5 million, a decline of 4.8% year-over-year. The gross profit was $190.1 million, with a margin of 69.8%, up from 66.2% a year ago. Adjusted earnings per diluted share reached $0.74, rising from $0.69 in the prior period.
Despite revenue contraction, the company showed stable performance with adjusted EBITDA of $99.2 million, reflecting a 36.4% margin.
For the nine-month period, revenues were $837.0 million, down 0.2% from the previous year. Net income stood at $63.7 million, with earnings per diluted share of $1.10.
Embecta also revised its fiscal 2024 guidance, expecting revenues between $1,111 - $1,116 million, adjusted EPS of $2.30 - $2.35, and an adjusted EBITDA margin of 31.25% - 31.50%.
The company advanced its ERP systems, strategic initiatives, and FDA 510(k) filing for its open-loop patch pump program.
embecta (Nasdaq: EMBC) has announced a quarterly cash dividend of $0.15 per share for its common stock. The dividend will be paid on September 13, 2024 to stockholders of record as of the close of business on August 27, 2024. This decision, made by embecta's Board of Directors, demonstrates the company's commitment to providing regular returns to its shareholders. The announcement reflects embecta's financial stability and confidence in its ability to generate consistent cash flow to support dividend payments.
Genpact (NYSE: G) has been supporting embecta (Nasdaq: EMBC), a global diabetes care company, in its spin-off from Becton Dickinson and Company (BD) and its evolution as an independent leader in the diabetes technology market. Genpact's expertise in life sciences, healthcare, data, technology, and AI has enabled them to provide tailored solutions for embecta's needs.
The partnership has focused on modernizing embecta's operations, including implementing a robust ERP system, launching a standardized global operating model, and establishing end-to-end HR, finance, and procurement processes. This support has ensured uninterrupted customer service and supply chain stability, allowing embecta to continue providing insulin injection devices to 30 million people in over 100 countries.
Embecta Corp. (Nasdaq: EMBC), a global diabetes care company specializing in insulin delivery, has announced its upcoming fiscal third quarter 2024 financial results conference call. The event is scheduled for Friday, August 9, 2024, at 8:00 a.m. Eastern Time. During the call, the company will discuss financial results, provide an operational update, and host a Q&A session. Interested parties can access the live webcast through the provided link or via the company's investor relations website. A teleconference option is also available. For those unable to attend live, a webcast replay will be accessible from 11:00 a.m. ET on the same day and will remain archived on the website for one year.
Embecta presented two abstracts at the ADA's 84th Scientific Sessions, highlighting the potential benefits of a 300-unit insulin reservoir patch pump for adults with type 2 diabetes (T2D). Research indicated that the larger reservoir could reduce the need for frequent patch changes and better accommodate daily insulin needs. One study found that insulin total daily dose (TDD) was influenced by factors such as BMI and medication type. Another analysis showed that a 300u reservoir would meet the needs of 64% of T2D patients for 72-hour wear compared to 38% for a 200u reservoir. Embecta has submitted a 300u insulin delivery system to the FDA for approval.
Zimmer Biomet has announced the appointment of Devdatt Kurdikar to its Board of Directors, effective immediately. Kurdikar is currently the President, CEO, and a board member of Embecta, a leading diabetes management company. His extensive experience in the medical technology sector includes leadership roles at BD, Cardiac Science, Boston Scientific, and Baxter International. Zimmer Biomet's Chairman, Chris Begley, emphasized the value Kurdikar's expertise will bring as the company advances its strategic priorities. Kurdikar holds advanced degrees in Chemical Engineering and an MBA, and has a strong background in medtech innovation and leadership.
Embecta Corp. reported solid financial results for Q2 and the first half of fiscal year 2024, showcasing resilience in base business and strong operational execution. The company saw revenue growth, increased gross profit and margin, and positive adjusted net income. Strategic highlights include strengthening the base business and investing for growth with FDA review progress on insulin delivery systems.
Embecta Corp. (EMBC) announced a quarterly cash dividend of $0.15 per share for stockholders, payable on June 14, 2024. The dividend will be given to shareholders of record as of May 28, 2024.
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