Wilmington Savings Fund Society FSB Acquires Shares of 15,368 Embecta Corp. (NASDAQ:EMBC)

Wilmington Savings Fund Society FSB bought a new position in Embecta Corp. (NASDAQ:EMBC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,368 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its holdings in Embecta by 41.1% in the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after acquiring an additional 28,523 shares during the last quarter. Meros Investment Management LP bought a new stake in shares of Embecta in the 3rd quarter worth $2,679,000. Geode Capital Management LLC raised its stake in shares of Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after purchasing an additional 45,228 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Embecta by 156.1% during the third quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after purchasing an additional 107,567 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Embecta during the third quarter valued at $30,000. Institutional investors own 93.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EMBC shares. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

Embecta Price Performance

NASDAQ EMBC opened at $19.92 on Thursday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.08 and a beta of 1.25. Embecta Corp. has a 1-year low of $9.93 and a 1-year high of $21.48. The business’s fifty day moving average price is $16.08 and its 200-day moving average price is $14.77.

Embecta (NASDAQ:EMBC) last posted its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities research analysts anticipate that Embecta Corp. will post 2.84 EPS for the current 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. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 3.01%. Embecta’s dividend payout ratio (DPR) is 44.44%.

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.