Embecta Corp. (NASDAQ:EMBC) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC decreased its holdings in Embecta Corp. (NASDAQ:EMBC) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110,888 shares of the company’s stock after selling 27,295 shares during the period. Isthmus Partners LLC owned approximately 0.19% of Embecta worth $1,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Embecta by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after acquiring an additional 187,916 shares during the last quarter. American Century Companies Inc. raised its holdings in Embecta by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock valued at $39,538,000 after acquiring an additional 18,933 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Embecta in the 3rd quarter valued at approximately $15,306,000. Bank of New York Mellon Corp grew its stake in shares of Embecta by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock valued at $9,920,000 after buying an additional 12,424 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Embecta by 136.2% in the 2nd quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after buying an additional 354,454 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Price Performance

Embecta stock opened at $20.59 on Friday. The firm has a 50 day simple moving average of $14.58 and a 200-day simple moving average of $14.16. Embecta Corp. has a 1-year low of $9.93 and a 1-year high of $20.80. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 15.25 and a beta of 0.97.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.91%. Embecta’s payout ratio is currently 44.44%.

Analysts Set New Price Targets

Separately, BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday.

About Embecta

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.