Embecta (NASDAQ:EMBC) Reaches New 1-Year High Following Dividend Announcement

Embecta Corp. (NASDAQ:EMBC)’s stock price hit a new 52-week high on Tuesday following a dividend announcement from the company. The company traded as high as $20.80 and last traded at $20.62, with a volume of 390469 shares. The stock had previously closed at $14.41.

The newly announced dividend which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.21%. Embecta’s dividend payout ratio is 50.00%.

Embecta Price Performance

The firm has a market capitalization of $1.08 billion, a PE ratio of 12.01 and a beta of 0.97. The firm has a 50-day simple moving average of $14.33 and a 200-day simple moving average of $14.04.

Hedge Funds Weigh In On Embecta

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its holdings in Embecta by 11.3% in the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after purchasing an additional 1,023 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Embecta by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after buying an additional 1,025 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Embecta by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock worth $452,000 after buying an additional 1,179 shares during the period. Bayesian Capital Management LP lifted its position in shares of Embecta by 13.3% during the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after buying an additional 1,500 shares in the last quarter. Finally, Ceera Investments LLC grew its stake in shares of Embecta by 0.9% during the 2nd quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after acquiring an additional 1,514 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.