Embecta Corp. (NASDAQ:EMBC) Stock Position Lifted by XTX Topco Ltd

XTX Topco Ltd raised its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 148.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,584 shares of the company’s stock after buying an additional 24,827 shares during the period. XTX Topco Ltd owned about 0.07% of Embecta worth $520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Embecta in the fourth quarter valued at about $7,653,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Embecta by 95.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock valued at $8,536,000 after buying an additional 313,951 shares in the last quarter. Vanguard Group Inc. increased its holdings in Embecta by 2.7% in the first 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. Mercer Global Advisors Inc. ADV bought a new position in Embecta during the second quarter valued at approximately $1,663,000. Finally, Keeley Teton Advisors LLC lifted its stake in Embecta by 87.2% in the first quarter. Keeley Teton Advisors LLC now owns 255,999 shares of the company’s stock valued at $3,397,000 after acquiring an additional 119,269 shares during the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Performance

EMBC opened at $15.07 on Wednesday. The company has a market cap of $869.09 million, a PE ratio of 12.45 and a beta of 1.00. The stock has a 50-day moving average of $15.10 and a 200-day moving average of $13.31. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $19.79.

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

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s dividend payout ratio is 49.59%.

Analyst Ratings Changes

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

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.