The Manufacturers Life Insurance Company Purchases 1,025 Shares of Embecta Corp. (NASDAQ:EMBC)

The Manufacturers Life Insurance Company lifted its holdings in Embecta Corp. (NASDAQ:EMBC) by 4.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 22,212 shares of the company’s stock after buying an additional 1,025 shares during the period. The Manufacturers Life Insurance Company’s holdings in Embecta were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in EMBC. AQR Capital Management LLC grew its holdings in Embecta by 136.2% during the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after purchasing an additional 354,454 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Embecta by 95.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock worth $8,536,000 after acquiring an additional 313,951 shares in the last quarter. Vanguard Group Inc. raised its stake in Embecta by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after acquiring an additional 187,916 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Embecta during the second quarter valued at approximately $1,663,000. Finally, AXA S.A. purchased a new position in Embecta during the second quarter valued at approximately $1,595,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Embecta Stock Down 1.1 %

Shares of Embecta stock opened at $13.55 on Friday. The company has a market capitalization of $781.43 million, a price-to-earnings ratio of 11.20 and a beta of 0.98. The stock’s 50-day simple moving average is $14.65 and its 200-day simple moving average is $13.36. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79.

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

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 4.43%. Embecta’s payout ratio is 49.59%.

Embecta 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.