28,700 Shares in Embecta Corp. (NASDAQ:EMBC) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Embecta Corp. (NASDAQ:EMBC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,700 shares of the company’s stock, valued at approximately $543,000.

Several other hedge funds have also recently made changes to their positions in EMBC. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Embecta by 2.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,564 shares of the company’s stock valued at $460,000 after buying an additional 834 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Embecta by 66.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,284 shares of the company’s stock valued at $34,000 after acquiring an additional 910 shares during the period. Dark Forest Capital Management LP lifted its position in shares of Embecta by 2.0% during the third quarter. Dark Forest Capital Management LP now owns 48,430 shares of the company’s stock worth $729,000 after acquiring an additional 943 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Embecta by 0.9% in the third quarter. Swiss National Bank now owns 125,920 shares of the company’s stock worth $1,895,000 after acquiring an additional 1,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Embecta by 10.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,592 shares of the company’s stock valued at $174,000 after purchasing an additional 1,121 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors.

Embecta Stock Performance

NASDAQ:EMBC opened at $10.44 on Tuesday. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $32.00. The business’s fifty day moving average is $12.65 and its 200 day moving average is $15.39. The firm has a market cap of $601.14 million, a price-to-earnings ratio of 10.99 and a beta of 0.73.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The firm had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $264.92 million. During the same period in the prior year, the business posted $0.93 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities analysts predict that Embecta Corp. will post 2.14 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.75%. The ex-dividend date was Tuesday, February 27th. Embecta’s dividend payout ratio is 63.16%.

Insider Activity at Embecta

In other Embecta news, Director David F. Melcher purchased 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $16.25 per share, with a total value of $32,500.00. Following the acquisition, the director now directly owns 45,080 shares in the company, valued at approximately $732,550. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by corporate insiders.

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.