Embecta Corp. (NASDAQ:EMBC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,096 shares of the company’s stock after selling 6,991 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of Embecta worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Embecta by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after acquiring an additional 187,916 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Embecta by 29.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,288,995 shares of the company’s stock valued at $24,401,000 after purchasing an additional 296,997 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Embecta by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock worth $9,920,000 after buying an additional 12,424 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Embecta by 95.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock worth $8,536,000 after buying an additional 313,951 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Embecta in the fourth quarter valued at $7,653,000. 93.83% of the stock is currently owned by institutional investors.

Embecta Stock Down 0.6 %

Shares of NASDAQ EMBC opened at $15.61 on Friday. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $19.79. The stock has a market capitalization of $900.23 million, a price-to-earnings ratio of 12.90 and a beta of 1.00. The stock’s fifty day simple moving average is $15.01 and its 200 day simple moving average is $13.29.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.28. The company had revenue of $272.50 million during the quarter, compared to analyst estimates of $267.44 million. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 3.84%. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their price objective on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, July 15th.

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.