Embecta Corp. (NASDAQ:EMBC) Shares Bought by Inspire Advisors LLC

Inspire Advisors LLC grew its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 108.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,169 shares of the company’s stock after purchasing an additional 16,207 shares during the period. Inspire Advisors LLC owned approximately 0.05% of Embecta worth $439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC increased its stake in Embecta by 136.2% in the 2nd quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after purchasing an additional 354,454 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position 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 buying an additional 313,951 shares in the last quarter. Vanguard Group Inc. raised its stake 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 worth $95,730,000 after buying an additional 187,916 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Embecta in the 2nd quarter worth about $1,663,000. Finally, AXA S.A. acquired a new stake in Embecta in the 2nd quarter valued at about $1,595,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Stock Performance

Embecta stock opened at $13.64 on Friday. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $19.79. The stock has a fifty day moving average of $14.62 and a two-hundred day moving average of $13.37. The company has a market capitalization of $786.62 million, a price-to-earnings ratio of 11.27 and a beta of 0.98.

Embecta (NASDAQ:EMBC) last announced its earnings results on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The firm had revenue of $272.50 million during the quarter, compared to the consensus estimate of $267.44 million. During the same quarter in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that Embecta Corp. will post 2.43 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 4.40%. Embecta’s dividend payout ratio (DPR) is currently 49.59%.

Wall Street Analyst Weigh In

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

Embecta Company 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.