Natixis Advisors LLC Makes New Investment in Embecta Corp. (NASDAQ:EMBC)

Natixis Advisors LLC purchased a new stake in shares of Embecta Corp. (NASDAQ:EMBC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 29,087 shares of the company’s stock, valued at approximately $364,000.

Several other institutional investors also recently modified their holdings of the business. YHB Investment Advisors Inc. bought a new position in Embecta during the 1st quarter valued at about $56,000. CWM LLC raised its position in Embecta by 773.8% in the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares during the period. Cardinal Capital Management bought a new stake in Embecta during the 1st quarter worth approximately $134,000. Inspire Advisors LLC grew its position in shares of Embecta by 12.1% during the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after purchasing an additional 1,334 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its holdings 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 valued at $169,000 after purchasing an additional 1,500 shares during the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Embecta Price Performance

EMBC opened at $16.02 on Friday. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $19.79. The business’s 50-day moving average is $14.56 and its two-hundred day moving average is $13.22. The firm has a market capitalization of $924.35 million, a PE ratio of 13.24 and a beta of 1.00.

Embecta (NASDAQ:EMBC) last posted its quarterly 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 during 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%. Embecta’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. As a group, sell-side analysts expect that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 3.75%. Embecta’s dividend payout ratio (DPR) is currently 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.