Public Sector Pension Investment Board Purchases 7,997 Shares of Embecta Corp. (NASDAQ:EMBC)

Public Sector Pension Investment Board boosted its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,915 shares of the company’s stock after acquiring an additional 7,997 shares during the period. Public Sector Pension Investment Board’s holdings in Embecta were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta during the second quarter valued at approximately $50,000. YHB Investment Advisors Inc. bought a new stake in Embecta during the 1st quarter valued at $56,000. CWM LLC increased its holdings in shares of Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after acquiring an additional 8,040 shares during the period. Cardinal Capital Management bought a new position in shares of Embecta in the 1st quarter worth $134,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Embecta during the 4th quarter worth $208,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Embecta Stock Down 0.4 %

NASDAQ:EMBC opened at $14.10 on Tuesday. The stock has a market capitalization of $813.15 million, a price-to-earnings ratio of 11.65 and a beta of 1.00. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79. The firm has a 50 day moving average of $15.16 and a 200 day moving average of $13.32.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data 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 firm had revenue of $272.50 million during the quarter, compared to analyst estimates of $267.44 million. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts expect that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.26%. Embecta’s payout ratio is 49.59%.

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.