First Eagle Investment Management LLC Trims Stock Position in Embecta Corp. (NASDAQ:EMBC)

First Eagle Investment Management LLC decreased its position in Embecta Corp. (NASDAQ:EMBC) by 5.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 394,494 shares of the company’s stock after selling 21,700 shares during the period. First Eagle Investment Management LLC owned 0.68% of Embecta worth $4,931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Iat Reinsurance Co. LTD. purchased a new stake in shares of Embecta in the 2nd quarter worth $50,000. YHB Investment Advisors Inc. purchased a new stake in Embecta in the first quarter worth about $56,000. CWM LLC grew its holdings in Embecta by 773.8% during the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares in the last quarter. Cardinal Capital Management bought a new position in Embecta during the 1st quarter worth about $134,000. Finally, Capstone Investment Advisors LLC purchased a new position in Embecta during the 4th quarter valued at about $208,000. Institutional investors own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley dropped their price objective on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, July 15th.

Embecta Trading Down 0.6 %

Shares of NASDAQ:EMBC opened at $15.61 on Friday. The company has a market capitalization of $900.23 million, a PE ratio of 12.90 and a beta of 1.00. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $19.79. The business’s fifty day simple moving average is $15.01 and its 200-day simple moving average is $13.29.

Embecta (NASDAQ:EMBC) last posted its earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.28. The company had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Research analysts predict that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 3.84%. Embecta’s dividend payout ratio (DPR) is 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.