Raymond James Financial Services Advisors Inc. bought a new stake in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,933 shares of the company's stock, valued at approximately $488,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Embecta during the third quarter valued at approximately $27,000. Copeland Capital Management LLC purchased a new stake in shares of Embecta during the third quarter valued at approximately $28,000. Bartlett & Co. LLC purchased a new stake in shares of Embecta during the third quarter valued at approximately $41,000. Hall Laurie J Trustee purchased a new stake in shares of Embecta during the third quarter valued at approximately $42,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Embecta during the third quarter valued at approximately $42,000. Institutional investors own 93.45% of the company's stock.
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Embecta Trading Up 6.4 %
NASDAQ:EMBC opened at $25.21 on Thursday. The company's 50 day moving average price is $28.75 and its 200-day moving average price is $29.51. Embecta Corp. has a 52 week low of $22.30 and a 52 week high of $49.00.
Embecta (NASDAQ:EMBC – Get Rating) last issued its earnings results on Tuesday, December 20th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $274.60 million for the quarter, compared to analysts' expectations of $263.88 million. Sell-side analysts expect that Embecta Corp. will post 1.9 EPS for the current year.
Embecta Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Friday, December 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend 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 target on the stock. in a 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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