Embecta Corp. (NASDAQ:EMBC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 963,024 shares of the company’s stock after selling 197,998 shares during the period. Charles Schwab Investment Management Inc. owned about 1.67% of Embecta worth $13,579,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Copeland Capital Management LLC acquired a new stake in shares of Embecta in the 3rd quarter worth approximately $43,000. Iat Reinsurance Co. LTD. purchased a new position in shares of Embecta in the second quarter valued at $50,000. CWM LLC raised its stake in shares of 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. Canada Pension Plan Investment Board acquired a new stake in shares of Embecta in the second quarter valued at approximately $140,000. Finally, Inspire Advisors LLC increased its stake in shares of Embecta by 21.2% during the 2nd quarter. Inspire Advisors LLC now owns 14,962 shares of the company’s stock worth $187,000 after purchasing an additional 2,621 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Stock Down 3.1 %

EMBC stock opened at $19.24 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.25. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48. The stock’s fifty day simple moving average is $15.23 and its 200-day simple moving average is $14.42.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $286.10 million during the quarter, compared to analysts’ expectations of $276.97 million. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. As a group, analysts anticipate that Embecta Corp. will post 2.84 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 3.12%. Embecta’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EMBC. BTIG Research upgraded 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. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

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.