Wilmington Savings Fund Society FSB Makes New $217,000 Investment in Embecta Corp. (NASDAQ:EMBC)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Embecta Corp. (NASDAQ:EMBC) during the third quarter, HoldingsChannel reports. The fund acquired 15,368 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC purchased a new position in Embecta during the third quarter valued at approximately $594,000. Rubric Capital Management LP bought a new stake in shares of Embecta during the 3rd quarter valued at $15,306,000. Algert Global LLC raised its position in shares of Embecta by 281.8% during the 2nd quarter. Algert Global LLC now owns 153,953 shares of the company’s stock valued at $1,924,000 after purchasing an additional 113,633 shares during the period. AXA S.A. purchased a new position in shares of Embecta during the 2nd quarter valued at $1,595,000. Finally, AQR Capital Management LLC lifted its position in shares of 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 currently owned by institutional investors.

Embecta Stock Up 0.5 %

EMBC opened at $19.92 on Thursday. The company has a market capitalization of $1.16 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The firm has a 50-day simple moving average of $16.08 and a two-hundred day simple moving average of $14.77. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $21.48.

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

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, December 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, December 6th. Embecta’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

EMBC has been the topic of a number of research analyst reports. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $13.00 to $20.00 in a research report 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.