Norges Bank Acquires New Holdings in Embecta Corp. (NASDAQ:EMBC)

Norges Bank bought a new stake in Embecta Corp. (NASDAQ:EMBCFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 404,292 shares of the company’s stock, valued at approximately $7,653,000. Norges Bank owned approximately 0.70% of Embecta as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of EMBC. Victory Capital Management Inc. lifted its stake in Embecta by 63.8% in the 3rd quarter. Victory Capital Management Inc. now owns 109,881 shares of the company’s stock valued at $1,654,000 after acquiring an additional 42,789 shares in the last quarter. Barclays PLC lifted its stake in Embecta by 917.4% in the 3rd quarter. Barclays PLC now owns 533,905 shares of the company’s stock valued at $8,035,000 after acquiring an additional 481,426 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Embecta by 80.4% in the 3rd quarter. New York State Common Retirement Fund now owns 85,022 shares of the company’s stock valued at $1,280,000 after acquiring an additional 37,881 shares in the last quarter. Swiss National Bank lifted its stake in Embecta by 0.9% in the 3rd quarter. Swiss National Bank now owns 125,920 shares of the company’s stock valued at $1,895,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Embecta by 32.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 991,998 shares of the company’s stock valued at $14,930,000 after acquiring an additional 240,364 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Down 0.9 %

Shares of Embecta stock opened at $12.81 on Friday. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $28.36. The stock has a market cap of $738.75 million, a P/E ratio of 10.59 and a beta of 0.99. The business’s 50 day moving average is $12.07 and its 200-day moving average is $14.84.

Embecta (NASDAQ:EMBCGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.24. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The company had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $264.70 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Embecta Corp. will post 2.3 EPS for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, May 24th. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut their target price on Embecta from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th.

View Our Latest Report on EMBC

About Embecta

(Free Report)

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.

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Institutional Ownership by Quarter for Embecta (NASDAQ:EMBC)

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