Thrivent Financial for Lutherans Reduces Position in Embecta Corp. (NASDAQ:EMBC)

Thrivent Financial for Lutherans lessened its position in shares of Embecta Corp. (NASDAQ:EMBC) by 5.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,292 shares of the company’s stock after selling 2,583 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Embecta worth $639,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EMBC. Public Employees Retirement System of Ohio grew its stake in Embecta by 1,135.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after buying an additional 37,009 shares during the last quarter. CWM LLC grew its stake 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 buying an additional 8,040 shares during the last quarter. Cardinal Capital Management grew its stake in Embecta by 16.8% during the 2nd quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock worth $147,000 after buying an additional 1,691 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Embecta by 19.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 26,395 shares of the company’s stock worth $330,000 after buying an additional 4,287 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Embecta by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock worth $452,000 after acquiring an additional 1,179 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 0.3 %

Embecta stock opened at $20.50 on Thursday. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48. The stock has a 50 day moving average of $15.02 and a two-hundred day moving average of $14.34. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.14 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $286.10 million during the quarter, compared to analysts’ expectations of $276.97 million. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. Equities analysts predict that Embecta Corp. will post 2.78 earnings per share for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be issued a $0.15 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.93%. Embecta’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EMBC shares. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $13.00 to $20.00 in a research report on Monday. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, November 27th.

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.