UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Embecta Corp. (NASDAQ:EMBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Embecta Corp. (NASDAQ:EMBC) by 1.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 140,668 shares of the company’s stock after selling 1,354 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Embecta were worth $1,983,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CWM LLC lifted its position 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Embecta by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after purchasing an additional 1,025 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Embecta by 3.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after purchasing an additional 1,179 shares during the period. Ceera Investments LLC boosted its position in shares of Embecta by 0.9% in the 2nd quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after purchasing an additional 1,514 shares during the period. Finally, Natixis Advisors LLC grew its stake in Embecta by 5.7% during the 3rd quarter. Natixis Advisors LLC now owns 30,735 shares of the company’s stock worth $433,000 after buying an additional 1,648 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EMBC. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $20.00 in a research note on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, November 27th.

Embecta Stock Down 0.9 %

NASDAQ EMBC opened at $19.51 on Monday. The business’s 50-day moving average price is $15.82 and its 200 day moving average price is $14.66. The firm has a market cap of $1.13 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.08 and a beta of 1.25. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48.

Embecta (NASDAQ:EMBC) last announced its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. The company had revenue of $286.10 million for the quarter, compared to the consensus estimate of $276.97 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Embecta Corp. will post 2.84 earnings per share for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 3.08%. Embecta’s dividend payout ratio is currently 44.44%.

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.