Royce & Associates LP acquired a new position in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,350 shares of the company's stock, valued at approximately $615,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Embecta in the 3rd quarter valued at about $27,000. Copeland Capital Management LLC purchased a new stake in Embecta during the 3rd quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in Embecta during the 3rd quarter valued at approximately $36,000. Hartford Financial Management Inc. purchased a new position in shares of Embecta during the 3rd quarter worth approximately $40,000. Finally, Bartlett & Co. LLC purchased a new position in shares of Embecta during the 3rd quarter worth approximately $41,000. 93.45% of the stock is owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Separately, Morgan Stanley downgraded Embecta from an "equal weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a research note on Friday, January 6th.
Embecta Trading Up 6.6 %
Embecta stock opened at $26.88 on Friday. Embecta Corp. has a 52 week low of $22.30 and a 52 week high of $49.00. The firm's 50-day simple moving average is $28.65 and its 200 day simple moving average is $29.49.
Embecta (NASDAQ:EMBC – Get Rating) last released its quarterly earnings data on Tuesday, December 20th. The company reported $0.73 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 business had revenue of $274.60 million for the quarter, compared to analyst estimates of $263.88 million. As a group, sell-side analysts predict that Embecta Corp. will post 1.9 EPS for the current fiscal year.
Embecta Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Friday, December 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, December 29th.
Embecta Company Profile
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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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