Bank of New York Mellon Corp Has $9.92 Million Holdings in Embecta Corp. (NASDAQ:EMBC)

Bank of New York Mellon Corp boosted its stake in Embecta Corp. (NASDAQ:EMBC) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 793,585 shares of the company’s stock after purchasing an additional 12,424 shares during the quarter. Bank of New York Mellon Corp owned about 1.38% of Embecta worth $9,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EMBC. YHB Investment Advisors Inc. acquired a new position in Embecta during the first quarter worth about $56,000. CWM LLC raised its stake in Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares in the last quarter. Cardinal Capital Management acquired a new position in Embecta during the first quarter worth about $134,000. Inspire Advisors LLC raised its stake in Embecta by 12.1% during the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after acquiring an additional 1,334 shares in the last quarter. Finally, Bayesian Capital Management LP raised its stake in Embecta by 13.3% during the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their target price on Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, July 15th.

Embecta Trading Up 0.1 %

NASDAQ:EMBC opened at $15.32 on Tuesday. The stock has a market cap of $883.96 million, a P/E ratio of 12.66 and a beta of 1.00. The stock’s 50-day moving average is $14.34 and its 200-day moving average is $13.18. Embecta Corp. has a 1-year low of $9.93 and a 1-year high of $19.79.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.28. The company had revenue of $272.50 million for the quarter, compared to analysts’ expectations of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, equities analysts forecast that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, August 27th. Embecta’s payout ratio is presently 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.