Meros Investment Management LP Invests $2.68 Million in Embecta Corp. (NASDAQ:EMBC)

Meros Investment Management LP acquired a new stake in shares of Embecta Corp. (NASDAQ:EMBC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 190,000 shares of the company’s stock, valued at approximately $2,679,000. Meros Investment Management LP owned 0.33% of Embecta as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Embecta by 0.6% during the second quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock valued at $39,538,000 after buying an additional 18,933 shares during the period. Geode Capital Management LLC increased its holdings in Embecta by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after buying an additional 45,228 shares during the period. Rubric Capital Management LP acquired a new stake in Embecta in the third quarter valued at approximately $15,306,000. Bank of New York Mellon Corp boosted its stake in Embecta by 1.6% in 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 in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after acquiring an additional 354,454 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Embecta Stock Up 3.1 %

Shares of EMBC opened at $20.21 on Wednesday. The stock’s 50-day moving average price is $15.46 and its 200-day moving average price is $14.52. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.04 and a beta of 1.24. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC) last posted its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $286.10 million during the quarter, compared to analyst estimates of $276.97 million. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that Embecta Corp. will post 2.84 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, December 6th. Embecta’s payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

EMBC has been the subject of several recent analyst reports. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $20.00 in a research note on Monday, December 2nd.

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.