Texas Permanent School Fund Corp Lowers Position in Embecta Corp. (NASDAQ:EMBC)

Texas Permanent School Fund Corp cut its holdings in Embecta Corp. (NASDAQ:EMBC) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,446 shares of the company’s stock after selling 858 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Embecta worth $1,090,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in shares of Embecta by 493.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock valued at $64,000 after buying an additional 1,896 shares during the last quarter. State of Wyoming purchased a new stake in shares of Embecta during the fourth quarter valued at about $119,000. Meeder Asset Management Inc. lifted its position in shares of Embecta by 853.9% during the fourth quarter. Meeder Asset Management Inc. now owns 5,113 shares of the company’s stock valued at $129,000 after buying an additional 4,577 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Embecta during the first quarter valued at about $549,000. Finally, Russell Investments Group Ltd. raised its position in shares of Embecta by 728.7% in the 1st quarter. Russell Investments Group Ltd. now owns 6,820 shares of the company’s stock valued at $192,000 after purchasing an additional 5,997 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Embecta news, Director David F. Melcher purchased 6,233 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average price of $15.77 per share, for a total transaction of $98,294.41. Following the acquisition, the director now owns 27,698 shares in the company, valued at $436,797.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Embecta Stock Up 1.4 %

Shares of Embecta stock opened at $16.63 on Monday. The firm has a market capitalization of $952.90 million, a P/E ratio of 20.53 and a beta of 0.59. The company has a 50 day moving average price of $15.37 and a 200 day moving average price of $20.27. Embecta Corp. has a 52 week low of $12.72 and a 52 week high of $36.64.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EMBC. Wolfe Research began coverage on shares of Embecta in a research report on Friday, October 20th. They issued a “peer perform” rating for the company. Morgan Stanley decreased their price objective on shares of Embecta from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Wednesday, October 18th.

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 devices, as well as digital applications to assist people with managing patient's diabetes.