Denali Advisors LLC Trims Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Denali Advisors LLC cut its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,800 shares of the company’s stock after selling 11,349 shares during the quarter. Denali Advisors LLC owned approximately 0.09% of Embecta worth $674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EMBC. Cardinal Capital Management acquired a new stake in shares of Embecta during the first quarter worth approximately $134,000. Vanguard Group Inc. boosted its stake in Embecta by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,026,076 shares of the company’s stock valued at $133,004,000 after acquiring an additional 20,509 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Embecta by 42.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,259 shares of the company’s stock worth $62,000 after acquiring an additional 975 shares in the last quarter. Comerica Bank increased its position in shares of Embecta by 22.4% in the 4th quarter. Comerica Bank now owns 88,685 shares of the company’s stock worth $1,679,000 after purchasing an additional 16,258 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Embecta by 5.5% in the 4th quarter. Isthmus Partners LLC now owns 89,422 shares of the company’s stock valued at $1,693,000 after purchasing an additional 4,670 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price target on Embecta from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 10th.

Embecta Trading Up 1.7 %

Shares of NASDAQ EMBC opened at $12.07 on Thursday. The company has a market capitalization of $696.08 million, a price-to-earnings ratio of 9.98 and a beta of 0.99. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $23.75. The business has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $14.12.

Embecta (NASDAQ:EMBC) last released its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.24. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $264.70 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Embecta Corp. will post 2.3 earnings per share for the current year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.60 dividend on an annualized basis and a yield of 4.97%. Embecta’s dividend payout ratio is currently 49.59%.

Embecta Company Profile

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 injection devices, as well as digital applications to assist people with managing patient's diabetes.