Embecta Corp. (NASDAQ:EMBC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Embecta Corp. (NASDAQ:EMBC) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,269 shares of the company’s stock after buying an additional 1,600 shares during the period. JPMorgan Chase & Co. owned about 0.25% of Embecta worth $2,048,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Garden State Investment Advisory Services LLC purchased a new stake in shares of Embecta in the 3rd quarter worth about $438,000. Wilmington Savings Fund Society FSB purchased a new position in Embecta in the 3rd quarter valued at about $217,000. Barclays PLC lifted its holdings in Embecta by 41.1% in the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Meros Investment Management LP purchased a new position in Embecta in the 3rd quarter valued at about $2,679,000. Finally, Geode Capital Management LLC lifted its holdings in Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after purchasing an additional 45,228 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EMBC. BTIG Research upgraded shares of 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 upped their target price for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Price Performance

Shares of EMBC stock opened at $18.63 on Wednesday. The firm has a market cap of $1.08 billion, a P/E ratio of 13.80, a PEG ratio of 1.01 and a beta of 1.23. Embecta Corp. has a 1-year low of $9.93 and a 1-year high of $21.48. The firm’s 50-day simple moving average is $18.92 and its 200-day simple moving average is $16.05.

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

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, December 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Friday, December 6th. Embecta’s dividend payout ratio (DPR) is presently 44.44%.

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.