Embecta Corp. (NASDAQ:EMBC) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. reduced its stake in Embecta Corp. (NASDAQ:EMBC) by 40.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,000 shares of the company’s stock after selling 6,920 shares during the quarter. Everence Capital Management Inc.’s holdings in Embecta were worth $141,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Inspire Advisors LLC lifted its holdings in shares of Embecta by 108.3% in the 3rd quarter. Inspire Advisors LLC now owns 31,169 shares of the company’s stock worth $439,000 after acquiring an additional 16,207 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Embecta in the 3rd quarter worth approximately $413,000. CWM LLC lifted its holdings in shares of Embecta by 11.3% in the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after acquiring an additional 1,023 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Embecta in the 3rd quarter worth approximately $207,000. Finally, Creative Planning acquired a new position in shares of Embecta in the 2nd quarter worth approximately $454,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their target price on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Monday, July 15th.

Embecta Stock Up 1.0 %

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

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The company 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 firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, equities research analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Announces Dividend

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