Teacher Retirement System of Texas Grows Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Teacher Retirement System of Texas grew its stake in Embecta Corp. (NASDAQ:EMBC) by 349.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,708 shares of the company’s stock after acquiring an additional 43,300 shares during the period. Teacher Retirement System of Texas owned 0.10% of Embecta worth $1,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EMBC. Garden State Investment Advisory Services LLC bought a new stake in Embecta during the 3rd quarter valued at $438,000. Barclays PLC raised its holdings in shares of Embecta by 41.1% in the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after acquiring an additional 28,523 shares in the last quarter. Jane Street Group LLC lifted its stake in Embecta by 156.1% in the third quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after acquiring an additional 107,567 shares during the period. Geode Capital Management LLC grew its holdings in Embecta by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after acquiring an additional 45,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Embecta during the 4th quarter worth about $209,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd.

Embecta Stock Performance

EMBC stock opened at $12.28 on Friday. The firm has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $16.27. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48. The firm has a market cap of $713.89 million, a price-to-earnings ratio of 12.28, a PEG ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, equities analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.89%. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insider Activity at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the sale, the director now owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

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.