Van ECK Associates Corp Invests $44,000 in Embecta Corp. (NASDAQ:EMBC)

Van ECK Associates Corp bought a new position in shares of Embecta Corp. (NASDAQ:EMBC – Get Rating) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,537 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors also recently modified their holdings of EMBC. State of Alaska Department of Revenue acquired a new position in shares of Embecta during the third quarter worth approximately $8,081,000. Mackenzie Financial Corp acquired a new position in shares of Embecta during the third quarter worth approximately $2,095,000. Red Cedar Capital LLC acquired a new position in shares of Embecta during the third quarter worth approximately $1,555,000. Texas Permanent School Fund acquired a new position in shares of Embecta during the third quarter worth approximately $1,197,000. Finally, Garrison Asset Management LLC acquired a new position in shares of Embecta during the third quarter worth approximately $1,039,000. 93.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Morgan Stanley downgraded Embecta from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Friday, January 6th.

Embecta Trading Up 1.6 %

Shares of Embecta stock opened at $23.72 on Friday. The stock has a fifty day simple moving average of $29.27 and a 200 day simple moving average of $29.51. Embecta Corp. has a 12-month low of $22.30 and a 12-month high of $49.00.

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

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th were paid a $0.15 dividend. The ex-dividend date was Thursday, December 29th. This represents a $0.60 dividend on an annualized basis and a yield of 2.53%.

Embecta Profile

(Get Rating)

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.