Embecta Corp. (NASDAQ:EMBC) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC increased its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 156.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,487 shares of the company’s stock after purchasing an additional 107,567 shares during the quarter. Jane Street Group LLC owned 0.31% of Embecta worth $2,488,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC purchased a new position in shares of Embecta in the 3rd quarter valued at $594,000. Rubric Capital Management LP acquired a new stake in Embecta in the 3rd quarter valued at $15,306,000. Algert Global LLC raised its position in Embecta by 281.8% in the second quarter. Algert Global LLC now owns 153,953 shares of the company’s stock valued at $1,924,000 after purchasing an additional 113,633 shares during the period. AXA S.A. acquired a new position in shares of Embecta during the second quarter worth about $1,595,000. Finally, AQR Capital Management LLC boosted its position in shares of Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock worth $7,683,000 after buying an additional 354,454 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

EMBC has been the topic of several analyst reports. BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $20.23 on Monday. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The stock’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $14.92. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.08 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $286.10 million for the quarter, compared to the consensus estimate of $276.97 million. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. Embecta’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. As a group, research analysts predict that Embecta Corp. will post 2.84 EPS for the current year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, December 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 2.97%. Embecta’s dividend payout ratio is presently 44.44%.

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.