Maryland State Retirement & Pension System Sells 2,155 Shares of Embecta Corp. $EMBC

Maryland State Retirement & Pension System cut its holdings in Embecta Corp. (NASDAQ:EMBC) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,322 shares of the company’s stock after selling 2,155 shares during the period. Maryland State Retirement & Pension System’s holdings in Embecta were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EMBC. Sterling Capital Management LLC increased its stake in Embecta by 796.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock worth $35,000 after acquiring an additional 1,497 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Embecta in the 1st quarter worth approximately $48,000. Picton Mahoney Asset Management purchased a new position in shares of Embecta in the 1st quarter worth approximately $50,000. Ameriflex Group Inc. bought a new position in shares of Embecta during the 4th quarter valued at approximately $53,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in Embecta during the 4th quarter valued at $77,000. Institutional investors own 93.83% of the company’s stock.

Insider Activity

In other news, Director David F. Melcher purchased 10,000 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $10.60 per share, with a total value of $106,000.00. Following the completion of the acquisition, the director owned 86,681 shares of the company’s stock, valued at $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on EMBC. BTIG Research set a $25.00 price objective on shares of Embecta and gave the stock a “buy” rating in a research note on Friday, May 23rd. Mizuho lowered their target price on shares of Embecta from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Embecta from a “buy” rating to a “strong-buy” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Embecta currently has an average rating of “Hold” and a consensus target price of $19.00.

Embecta Price Performance

Embecta stock opened at $13.64 on Wednesday. The stock has a market cap of $797.80 million, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. The firm has a 50-day moving average of $10.71 and a two-hundred day moving average of $12.08. Embecta Corp. has a 1 year low of $9.20 and a 1 year high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.35. The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $278.15 million. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. Research analysts expect that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 4.4%. Embecta’s dividend payout ratio (DPR) is presently 41.96%.

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.