Embecta Corp. (NASDAQ:EMBC) Shares Sold by Cacti Asset Management LLC

Cacti Asset Management LLC lessened its holdings in Embecta Corp. (NASDAQ:EMBCFree Report) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,088 shares of the company’s stock after selling 4,723 shares during the period. Cacti Asset Management LLC owned approximately 0.11% of Embecta worth $1,320,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EMBC. Fifth Third Bancorp increased its holdings in Embecta by 56.1% during the 1st quarter. Fifth Third Bancorp now owns 1,464 shares of the company’s stock worth $41,000 after purchasing an additional 526 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Embecta by 493.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock worth $64,000 after buying an additional 1,896 shares during the period. State of Wyoming purchased a new position in Embecta in the fourth quarter worth approximately $119,000. Meeder Asset Management Inc. grew its holdings in Embecta by 853.9% during the 4th quarter. Meeder Asset Management Inc. now owns 5,113 shares of the company’s stock worth $129,000 after acquiring an additional 4,577 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Embecta in the 1st quarter valued at approximately $549,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Stock Performance

EMBC opened at $16.58 on Thursday. The stock has a market capitalization of $950.10 million, a P/E ratio of 20.47 and a beta of 0.49. Embecta Corp. has a one year low of $15.20 and a one year high of $36.64. The business’s 50-day simple moving average is $19.41 and its 200-day simple moving average is $24.89.

Embecta (NASDAQ:EMBCGet Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.23. The business had revenue of $286.10 million during the quarter, compared to the consensus estimate of $275.07 million. Embecta had a negative return on equity of 21.04% and a net margin of 4.24%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. On average, equities research analysts forecast that Embecta Corp. will post 2.84 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, August 24th. Embecta’s dividend payout ratio (DPR) is presently 74.07%.

Insider Transactions at Embecta

In other news, CEO Devdatt Kurdikar acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $21.81 per share, with a total value of $109,050.00. Following the completion of the transaction, the chief executive officer now directly owns 244,791 shares in the company, valued at approximately $5,338,891.71. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Embecta news, CEO Devdatt Kurdikar acquired 5,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $21.81 per share, with a total value of $109,050.00. Following the completion of the transaction, the chief executive officer now directly owns 244,791 shares in the company, valued at $5,338,891.71. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David F. Melcher purchased 6,233 shares of the stock in a transaction on Friday, September 8th. The stock was acquired at an average price of $15.77 per share, with a total value of $98,294.41. Following the acquisition, the director now directly owns 27,698 shares in the company, valued at $436,797.46. The disclosure for this purchase can be found here. Insiders acquired a total of 20,558 shares of company stock valued at $409,371 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on shares of Embecta from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday, August 24th.

Check Out Our Latest Analysis on Embecta

Embecta Company Profile

(Free Report)

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 patient's diabetes.

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Institutional Ownership by Quarter for Embecta (NASDAQ:EMBC)

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