404,292 Shares in Embecta Corp. (NASDAQ:EMBC) Purchased by Norges Bank

Norges Bank bought a new position in shares of Embecta Corp. (NASDAQ:EMBCFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 404,292 shares of the company’s stock, valued at approximately $7,653,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in Embecta by 66.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,284 shares of the company’s stock worth $34,000 after buying an additional 910 shares in the last quarter. Bfsg LLC purchased a new position in shares of Embecta in the 4th quarter worth about $53,000. PEAK6 Investments LLC purchased a new position in shares of Embecta in the 3rd quarter worth about $219,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Embecta by 29.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,003 shares of the company’s stock worth $284,000 after purchasing an additional 3,411 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Embecta by 102.5% in the 3rd quarter. Algert Global LLC now owns 22,130 shares of the company’s stock worth $333,000 after purchasing an additional 11,200 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Trading Down 0.9 %

EMBC opened at $12.81 on Friday. The stock has a 50-day moving average price of $12.07 and a 200-day moving average price of $14.84. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $28.36. The stock has a market capitalization of $738.75 million, a P/E ratio of 10.59 and a beta of 0.99.

Embecta (NASDAQ:EMBCGet Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.24. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The company had revenue of $287.20 million during the quarter, compared to analyst estimates of $264.70 million. During the same quarter in the previous year, the company posted $0.75 EPS. Embecta’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Embecta Corp. will post 2.3 EPS for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, May 24th. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their price objective on Embecta from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, May 10th.

Check Out Our Latest Research Report on EMBC

About Embecta

(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 injection 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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