SG Americas Securities LLC Takes $207,000 Position in Embecta Corp. (NASDAQ:EMBC)

SG Americas Securities LLC purchased a new stake in Embecta Corp. (NASDAQ:EMBC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,674 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Embecta by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after purchasing an additional 187,916 shares during the period. 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 worth $39,538,000 after purchasing an additional 18,933 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Embecta by 1.6% during the 2nd 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. Jacobs Levy Equity Management Inc. boosted its position in shares of Embecta by 95.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock worth $8,536,000 after purchasing an additional 313,951 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Embecta by 136.2% during the 2nd quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock worth $7,683,000 after purchasing an additional 354,454 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley lowered 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 Stock Up 1.0 %

Embecta stock opened at $14.17 on Wednesday. The firm has a market cap of $817.18 million, a PE ratio of 11.71 and a beta of 0.98. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $19.79. The company’s 50 day moving average is $14.59 and its two-hundred day moving average is $13.39.

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The company had revenue of $272.50 million for 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 firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, equities research analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

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.