Kinneret Advisory LLC bought a new stake in Embecta Corp. (NASDAQ:EMBC – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,506 shares of the company's stock, valued at approximately $43,000.
Other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Embecta in the third quarter valued at about $27,000. Copeland Capital Management LLC acquired a new stake in Embecta during the third quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new stake in Embecta during the third quarter worth about $36,000. Hartford Financial Management Inc. acquired a new stake in Embecta during the third quarter worth about $40,000. Finally, Bartlett & Co. LLC acquired a new stake in Embecta during the third quarter worth about $41,000. 93.45% of the stock is currently owned by institutional investors and hedge funds.
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Embecta Price Performance
Shares of EMBC traded up $0.34 during trading on Wednesday, reaching $23.91. 480 shares of the company traded hands, compared to its average volume of 681,762. Embecta Corp. has a twelve month low of $22.30 and a twelve month high of $49.00. The stock has a 50-day simple moving average of $29.71 and a 200-day simple moving average of $29.61.
Embecta (NASDAQ:EMBC – Get Rating) last announced its quarterly earnings results on Tuesday, December 20th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.06. Embecta had a net
margin of 19.80% and a negative return on equity of 52.41%. The business had revenue of $274.60 million during the quarter, compared to analysts' expectations of $263.88 million. As a group, analysts forecast that Embecta Corp. will post 1.9 EPS for the current year.
Embecta Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, December 29th.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley cut shares of Embecta from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research report on Friday, January 6th.
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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