Copeland Capital Management LLC Acquires New Stake in Embecta Corp. (NASDAQ:EMBC)

Copeland Capital Management LLC bought a new stake in Embecta Corp. (NASDAQ:EMBC) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,059 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC lifted its holdings in Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after acquiring an additional 1,023 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Embecta by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after acquiring an additional 1,025 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Embecta by 3.4% in the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after acquiring an additional 1,179 shares during the period. Inspire Advisors LLC lifted its holdings in Embecta by 12.1% in the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock valued at $164,000 after acquiring an additional 1,334 shares during the period. Finally, Bayesian Capital Management LP lifted its holdings in Embecta by 13.3% in the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their price target 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 Stock Up 1.0 %

Embecta stock opened at $14.17 on Wednesday. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79. The firm’s 50-day simple moving average is $14.59 and its 200 day simple moving average is $13.39. The firm has a market capitalization of $817.18 million, a PE ratio of 11.71 and a beta of 0.98.

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

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. Embecta’s dividend payout ratio (DPR) 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.