Embecta Corp. (NASDAQ:EMBC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in Embecta Corp. (NASDAQ:EMBC) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,292 shares of the company’s stock after selling 2,583 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Embecta were worth $639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copeland Capital Management LLC acquired a new position in Embecta during the third quarter worth $43,000. Iat Reinsurance Co. LTD. acquired a new position in Embecta during the second quarter worth $50,000. CWM LLC raised its holdings 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 purchasing an additional 8,040 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Embecta during the second quarter worth $140,000. Finally, Cardinal Capital Management raised its holdings in Embecta by 16.8% during the second quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock worth $147,000 after purchasing an additional 1,691 shares during the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, November 27th. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $20.00 in a report on Monday.

Embecta Stock Performance

Embecta stock opened at $20.50 on Thursday. The stock has a fifty day moving average of $15.02 and a two-hundred day moving average of $14.34. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.14 and a beta of 1.25. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $21.48.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $286.10 million during the quarter, compared to the consensus estimate of $276.97 million. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. Embecta’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. On average, analysts forecast that Embecta Corp. will post 2.78 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, December 6th. Embecta’s payout ratio is 44.44%.

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.