Fmr LLC Has $33.96 Million Stake in Embecta Corp. (NASDAQ:EMBC)

Fmr LLC lowered its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,408,200 shares of the company’s stock after selling 6,402 shares during the period. Fmr LLC owned about 4.17% of Embecta worth $33,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Embecta by 0.6% during the 2nd quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock valued at $39,538,000 after acquiring an additional 18,933 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Embecta by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock worth $9,920,000 after purchasing an additional 12,424 shares during the period. AQR Capital Management LLC boosted its holdings in Embecta by 136.2% during the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after purchasing an additional 354,454 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Embecta by 15.2% in the 2nd quarter. Marshall Wace LLP now owns 479,515 shares of the company’s stock valued at $5,994,000 after purchasing an additional 63,169 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Embecta by 3.1% in the 2nd quarter. Sei Investments Co. now owns 373,221 shares of the company’s stock worth $4,665,000 after buying an additional 11,110 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $20.00 in a research note on Monday, December 2nd. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th.

Embecta Price Performance

Shares of NASDAQ:EMBC opened at $19.24 on Monday. The firm’s 50 day simple moving average is $15.23 and its 200 day simple moving average is $14.42. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.11 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results 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. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. The firm had revenue of $286.10 million for the quarter, compared to the consensus estimate of $276.97 million. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts expect that Embecta Corp. will post 2.84 earnings per share for the current year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 3.12%. Embecta’s dividend payout ratio is currently 44.44%.

About Embecta

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.