State of New Jersey Common Pension Fund D purchased a new stake in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 74,125 shares of the company's stock, valued at approximately $2,134,000. State of New Jersey Common Pension Fund D owned 0.13% of Embecta as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $27,000. Copeland Capital Management LLC purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $36,000. Hartford Financial Management Inc. purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $40,000. Finally, Bartlett & Co. LLC purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.45% of the company's stock.
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Analyst Upgrades and Downgrades
Separately, Morgan Stanley downgraded shares of Embecta from an "equal weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a report on Friday, January 6th.
Embecta Trading Up 0.9 %
Embecta stock opened at $23.79 on Thursday. Embecta Corp. has a fifty-two week low of $22.30 and a fifty-two week high of $49.00. The firm has a 50 day moving average price of $29.62 and a 200 day moving average price of $29.57.
Embecta (NASDAQ:EMBC – Get Rating) last posted its earnings results on Tuesday, December 20th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. Embecta had a net margin of 19.80% and a negative return on equity of 52.41%. The firm had revenue of $274.60 million during the quarter, compared to the consensus estimate of $263.88 million. As a group, equities research analysts anticipate that Embecta Corp. will post 1.9 earnings per share for the current fiscal year.
Embecta Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.52%.
About Embecta
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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 devices, as well as digital applications to assist people with managing their diabetes. The company primarily sells its products to wholesalers and distributors in the United States and internationally.
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