New York State Teachers Retirement System Sells 1,100 Shares of Embecta Corp. (NASDAQ:EMBC)

New York State Teachers Retirement System lowered its holdings in Embecta Corp. (NASDAQ:EMBC) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,076 shares of the company’s stock after selling 1,100 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Embecta worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EMBC. AQR Capital Management LLC increased its stake in Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after acquiring an additional 354,454 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Embecta by 95.3% in the first 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 in the last quarter. Vanguard Group Inc. boosted its position in Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after buying an additional 187,916 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Embecta in the second quarter valued at about $1,663,000. Finally, AXA S.A. acquired a new position in Embecta in the second quarter valued at about $1,595,000. Institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley reduced their price target 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 Stock Up 1.6 %

NASDAQ:EMBC opened at $15.54 on Friday. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $19.79. The company’s 50-day moving average price is $14.62 and its two-hundred day moving average price is $13.71. The firm has a market cap of $896.66 million, a PE ratio of 12.95 and a beta of 0.97.

Embecta (NASDAQ:EMBC) last announced its earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The company had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. During the same period in the prior year, the business earned $0.69 earnings per share. Embecta’s quarterly revenue was down 4.8% on a year-over-year basis. On average, research analysts expect that Embecta Corp. will post 2.43 EPS for the current fiscal year.

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.