Mackenzie Financial Corp Raises Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Mackenzie Financial Corp lifted its holdings in Embecta Corp. (NASDAQ:EMBC) by 40.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,996 shares of the company’s stock after purchasing an additional 13,225 shares during the quarter. Mackenzie Financial Corp owned 0.08% of Embecta worth $575,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Embecta by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after acquiring an additional 187,916 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Embecta by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock worth $39,538,000 after purchasing an additional 18,933 shares during the period. Bank of New York Mellon Corp increased its position in shares of Embecta by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock valued at $9,920,000 after purchasing an additional 12,424 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Embecta by 95.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock valued at $8,536,000 after buying an additional 313,951 shares during the period. Finally, AQR Capital Management LLC lifted its position in Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock worth $7,683,000 after buying an additional 354,454 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Price Performance

Shares of NASDAQ EMBC opened at $13.51 on Friday. The company has a market cap of $779.12 million, a P/E ratio of 11.17 and a beta of 0.98. The firm has a 50-day simple moving average of $14.96 and a two-hundred day simple moving average of $13.34. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $19.79.

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

Embecta Dividend Announcement

The business 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 was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 4.44%. Embecta’s dividend payout ratio is currently 49.59%.

Analyst Ratings Changes

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

Embecta 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.