Creative Planning Sells 5,162 Shares of Embecta Corp. (NASDAQ:EMBC)

Creative Planning lessened its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,140 shares of the company’s stock after selling 5,162 shares during the quarter. Creative Planning owned about 0.05% of Embecta worth $439,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. CWM LLC boosted its position in shares of Embecta by 11.3% during the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after acquiring an additional 1,023 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Embecta by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after buying an additional 1,025 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Embecta by 3.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock worth $452,000 after buying an additional 1,179 shares during the last quarter. Inspire Advisors LLC lifted its position in Embecta by 12.1% in the 1st quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after buying an additional 1,334 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its position in Embecta by 13.3% in the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Price Performance

Shares of Embecta stock opened at $16.33 on Thursday. The business’s 50 day simple moving average is $14.66 and its two-hundred day simple moving average is $13.65. The stock has a market capitalization of $942.24 million, a P/E ratio of 13.61 and a beta of 0.97. Embecta Corp. has a one year low of $9.93 and a one year high of $19.79.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The business had revenue of $272.50 million for 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%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Sell-side analysts expect that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 3.67%. Embecta’s dividend payout ratio (DPR) is presently 50.00%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their target price on Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, July 15th.

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.