Strs Ohio Buys Shares of 13,300 Embecta Corp. (NASDAQ:EMBC)

Strs Ohio acquired a new stake in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,300 shares of the company’s stock, valued at approximately $382,000.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Embecta during the third quarter valued at approximately $27,000. Copeland Capital Management LLC bought a new position in shares of Embecta in the third quarter valued at approximately $28,000. Hartford Financial Management Inc. bought a new position in shares of Embecta in the third quarter valued at approximately $40,000. Bartlett & Co. LLC bought a new position in shares of Embecta in the third quarter valued at approximately $41,000. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Embecta in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 93.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered shares of Embecta from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Friday, January 6th.

Embecta Stock Down 1.9 %

Shares of EMBC stock opened at $23.34 on Friday. Embecta Corp. has a 1 year low of $22.30 and a 1 year high of $49.00. The firm’s fifty day simple moving average is $29.47 and its 200 day simple moving average is $29.52.

Embecta (NASDAQ:EMBC – Get Rating) last announced its earnings results on Tuesday, December 20th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Embecta had a net margin of 19.80% and a negative return on equity of 52.41%. The business had revenue of $274.60 million for the quarter, compared to analyst estimates of $263.88 million. On average, analysts anticipate that Embecta Corp. will post 1.9 earnings per share for the current year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Friday, December 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, December 29th.

Embecta Profile

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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 devices, as well as digital applications to assist people with managing their diabetes. The company primarily sells its products to wholesalers and distributors in the United States and internationally.