Exchange Traded Concepts LLC Boosts Stake in Embecta Corp. (NASDAQ:EMBC)

Exchange Traded Concepts LLC boosted its stake in Embecta Corp. (NASDAQ:EMBC) by 1,261.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,391 shares of the company’s stock after buying an additional 6,848 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Embecta were worth $94,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after buying an additional 774 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock valued at $35,000 after buying an additional 1,497 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Embecta during the 4th quarter worth $53,000. Siemens Fonds Invest GmbH purchased a new position in shares of Embecta during the 4th quarter worth $77,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Embecta by 111.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company’s stock worth $150,000 after purchasing an additional 3,835 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insider Activity at Embecta

In related news, Director David F. Melcher purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the acquisition, the director now owns 86,681 shares in the company, valued at approximately $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EMBC shares. BTIG Research set a $25.00 price target on Embecta and gave the stock a “buy” rating in a research note on Friday, May 23rd. Mizuho reduced their price target on Embecta from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen raised Embecta from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd.

Embecta Trading Up 4.1%

Shares of EMBC opened at $10.22 on Wednesday. The firm has a market capitalization of $597.26 million, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. The stock’s fifty day simple moving average is $11.14 and its 200 day simple moving average is $14.53. Embecta Corp. has a twelve month low of $9.49 and a twelve month high of $21.48.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The business had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a negative return on equity of 19.67% and a net margin of 4.89%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Wednesday, May 28th. Embecta’s dividend payout ratio (DPR) is currently 66.67%.

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.