Algert Global LLC Has $1.48 Million Holdings in Embecta Corp. (NASDAQ:EMBC)

Algert Global LLC trimmed its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 31.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,041 shares of the company’s stock after selling 48,912 shares during the period. Algert Global LLC owned about 0.18% of Embecta worth $1,481,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EMBC. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 187,916 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Embecta by 1,135.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after buying an additional 37,009 shares during the last quarter. Bayesian Capital Management LP boosted its stake in shares of Embecta by 13.3% during the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after buying an additional 1,500 shares during the last quarter. CWM LLC boosted its stake in shares of Embecta by 773.8% during the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after buying an additional 8,040 shares during the last quarter. Finally, Cardinal Capital Management boosted its stake in shares of Embecta by 16.8% during the 2nd quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock worth $147,000 after buying an additional 1,691 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $20.59 on Friday. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $20.80. The company has a market capitalization of $1.19 billion, a P/E ratio of 17.16 and a beta of 0.97. The company has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $14.11.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 2.91%. Embecta’s dividend payout ratio (DPR) is currently 50.00%.

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.