Embecta Corp. (NASDAQ:EMBC) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Embecta Corp. (NASDAQ:EMBC) by 41.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 97,930 shares of the company’s stock after purchasing an additional 28,523 shares during the period. Barclays PLC owned about 0.17% of Embecta worth $1,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EMBC. Quarry LP purchased a new stake in shares of Embecta in the 3rd quarter worth about $30,000. Copeland Capital Management LLC purchased a new stake in shares of Embecta in the third quarter valued at about $43,000. Iat Reinsurance Co. LTD. purchased a new stake in shares of Embecta in the second quarter valued at about $50,000. CWM LLC grew its position in shares of Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Embecta during the 2nd quarter worth approximately $140,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Price Performance

NASDAQ:EMBC opened at $20.70 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of 15.33, a P/E/G ratio of 1.08 and a beta of 1.25. The firm has a 50 day simple moving average of $17.22 and a 200-day simple moving average of $15.16. Embecta Corp. has a 1-year low of $9.93 and a 1-year high of $21.48.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share 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 company had revenue of $286.10 million during the quarter, compared to the consensus estimate of $276.97 million. During the same period in the previous year, the firm posted $0.59 EPS. Embecta’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Embecta Corp. will post 2.84 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, December 6th. Embecta’s payout ratio is 44.44%.

Analysts Set New Price Targets

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

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.