Mercer Global Advisors Inc. ADV Acquires Shares of 133,026 Embecta Corp. (NASDAQ:EMBC)

Mercer Global Advisors Inc. ADV bought a new position in Embecta Corp. (NASDAQ:EMBC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 133,026 shares of the company’s stock, valued at approximately $1,663,000. Mercer Global Advisors Inc. ADV owned approximately 0.23% of Embecta as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Embecta in the 4th quarter worth $7,653,000. Trexquant Investment LP purchased a new stake in shares of Embecta in the fourth quarter worth about $1,074,000. Allianz Asset Management GmbH boosted its stake in Embecta by 77.0% during the fourth quarter. Allianz Asset Management GmbH now owns 141,124 shares of the company’s stock valued at $2,671,000 after buying an additional 61,400 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Embecta during the fourth quarter valued at approximately $208,000. Finally, Isthmus Partners LLC grew its holdings in Embecta by 5.5% during the 4th quarter. Isthmus Partners LLC now owns 89,422 shares of the company’s stock valued at $1,693,000 after buying an additional 4,670 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Down 2.4 %

Embecta stock opened at $15.23 on Tuesday. The company’s 50-day moving average price is $15.06 and its 200-day moving average price is $13.30. The company has a market cap of $878.31 million, a PE ratio of 12.59 and a beta of 1.00. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $19.79.

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

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s dividend payout ratio is currently 49.59%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their target price on 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.