Public Sector Pension Investment Board Grows Stake in Embecta Corp. (NASDAQ:EMBC)

Public Sector Pension Investment Board boosted its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,915 shares of the company’s stock after acquiring an additional 7,997 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Embecta worth $1,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Embecta by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after purchasing an additional 187,916 shares during the last quarter. American Century Companies Inc. boosted its stake in Embecta by 0.6% during the second quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock worth $39,538,000 after buying an additional 18,933 shares during the period. Bank of New York Mellon Corp increased its position in Embecta by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock valued at $9,920,000 after acquiring an additional 12,424 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Embecta by 95.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock valued at $8,536,000 after acquiring an additional 313,951 shares during the period. Finally, Norges Bank bought a new stake in shares of Embecta in the 4th quarter worth about $7,653,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, July 15th.

Embecta Stock Down 0.4 %

Shares of Embecta stock opened at $14.10 on Tuesday. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79. The company has a market capitalization of $813.15 million, a PE ratio of 11.65 and a beta of 1.00. The stock’s fifty day moving average is $15.16 and its two-hundred day moving average is $13.32.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.46 by $0.28. The company had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. As a group, research analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. Embecta’s payout ratio is 49.59%.

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