Versor Investments LP Purchases 10,329 Shares of Embecta Corp. (NASDAQ:EMBC)

Versor Investments LP increased its holdings in Embecta Corp. (NASDAQ:EMBC) by 49.9% during the 2nd quarter, Holdings Channel reports. The firm owned 31,029 shares of the company’s stock after buying an additional 10,329 shares during the period. Versor Investments LP’s holdings in Embecta were worth $388,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. YHB Investment Advisors Inc. purchased a new position in Embecta during the 1st quarter valued at $56,000. 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 valued at $113,000 after purchasing an additional 8,040 shares in the last quarter. Cardinal Capital Management purchased a new position in shares of Embecta during the first quarter valued at about $134,000. Inspire Advisors LLC raised its stake in Embecta by 12.1% in the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after buying an additional 1,334 shares in the last quarter. Finally, Bayesian Capital Management LP raised its stake in Embecta by 13.3% in the first 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 in the last quarter. 93.83% of the stock is owned by institutional investors.

Embecta Trading Down 8.0 %

EMBC opened at $15.13 on Friday. The company has a market cap of $872.55 million, a price-to-earnings ratio of 12.50 and a beta of 0.99. The stock has a fifty day simple moving average of $14.22 and a two-hundred day simple moving average of $13.19. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $19.79.

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

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a $0.15 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.97%. Embecta’s dividend payout ratio is currently 49.59%.

Analyst Ratings Changes

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

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.