Oregon Public Employees Retirement Fund purchased a new stake in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,083 shares of the company's stock, valued at approximately $549,000.
A number of other institutional investors have also bought and sold shares of EMBC. State of Alaska Department of Revenue bought a new position in shares of Embecta during the 3rd quarter worth about $8,081,000. New York State Teachers Retirement System bought a new position in shares of Embecta during the 3rd quarter worth about $2,254,000. State of New Jersey Common Pension Fund D bought a new position in shares of Embecta during the 3rd quarter worth about $2,134,000. Mackenzie Financial Corp bought a new position in shares of Embecta during the 3rd quarter worth about $2,095,000. Finally, Red Cedar Capital LLC bought a new position in shares of Embecta during the 3rd quarter worth about $1,555,000. Institutional investors own 93.45% of the company's stock.
Get Embecta alerts:Embecta Stock Performance
EMBC opened at $26.88 on Friday. Embecta Corp. has a fifty-two week low of $22.30 and a fifty-two week high of $49.00. The company's 50-day moving average is $28.65 and its 200 day moving average is $29.49.
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, topping 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 company had revenue of $274.60 million for the quarter, compared to analyst estimates of $263.88 million. As a group, research analysts predict that Embecta Corp. will post 1.9 EPS for the current year.Embecta Dividend Announcement
The company also recently disclosed 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 was Thursday, December 29th. This represents a $0.60 annualized dividend and a yield of 2.23%.
Analysts Set New Price Targets
Separately, Morgan Stanley cut shares of Embecta from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research report on Friday, January 6th.
Embecta 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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