Denali Advisors LLC Sells 11,349 Shares of Embecta Corp. (NASDAQ:EMBC)

Denali Advisors LLC lessened its holdings in Embecta Corp. (NASDAQ:EMBC) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,800 shares of the company’s stock after selling 11,349 shares during the period. Denali Advisors LLC’s holdings in Embecta were worth $674,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EMBC. Cardinal Capital Management bought a new position in Embecta during the first quarter valued at about $134,000. Vanguard Group Inc. increased its holdings in shares of Embecta by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,026,076 shares of the company’s stock valued at $133,004,000 after acquiring an additional 20,509 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Embecta by 42.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,259 shares of the company’s stock valued at $62,000 after acquiring an additional 975 shares in the last quarter. Comerica Bank lifted its holdings in Embecta by 22.4% in the 4th quarter. Comerica Bank now owns 88,685 shares of the company’s stock worth $1,679,000 after purchasing an additional 16,258 shares during the last quarter. Finally, Isthmus Partners LLC lifted its holdings in Embecta by 5.5% in the 4th quarter. Isthmus Partners LLC now owns 89,422 shares of the company’s stock worth $1,693,000 after purchasing an additional 4,670 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Embecta Price Performance

Embecta stock opened at $12.07 on Thursday. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $23.75. The firm has a fifty day moving average price of $12.43 and a two-hundred day moving average price of $14.12. The firm has a market cap of $696.08 million, a price-to-earnings ratio of 9.98 and a beta of 0.99.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.24. The business had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $264.70 million. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, sell-side analysts expect that Embecta Corp. will post 2.3 earnings per share for the current year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a $0.15 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.60 annualized dividend and a dividend yield of 4.97%. Embecta’s dividend payout ratio is 49.59%.

Embecta Company Profile

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.