Swiss National Bank Reduces Stock Position in Embecta Corp. (NASDAQ:EMBC)

Swiss National Bank lessened its stake in Embecta Corp. (NASDAQ:EMBC) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,920 shares of the company’s stock after selling 13,000 shares during the period. Swiss National Bank owned approximately 0.20% of Embecta worth $2,138,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EMBC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Embecta by 10.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,592 shares of the company’s stock valued at $174,000 after acquiring an additional 1,121 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Embecta by 2.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,564 shares of the company’s stock worth $460,000 after purchasing an additional 834 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Embecta by 371.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 50,837 shares of the company’s stock worth $765,000 after buying an additional 40,056 shares during the last quarter. Signaturefd LLC grew its position in Embecta by 1,254.4% during the third quarter. Signaturefd LLC now owns 2,316 shares of the company’s stock valued at $35,000 after buying an additional 2,145 shares during the period. Finally, NBC Securities Inc. purchased a new stake in Embecta during the third quarter valued at approximately $44,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley dropped their price target on shares of Embecta from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th.

Embecta Stock Up 1.1 %

NASDAQ EMBC opened at $13.13 on Friday. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $28.36. The company has a market capitalization of $757.21 million, a P/E ratio of 10.85 and a beta of 0.86. The stock’s 50-day moving average price is $12.08 and its 200-day moving average price is $15.03.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.24. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $264.70 million. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Embecta Corp. will post 2.3 EPS for the current year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, May 24th. Embecta’s dividend payout ratio is presently 49.59%.

About Embecta

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.