Dark Forest Capital Management LP Invests $201,000 in Embecta Corp. (NASDAQ:EMBC)

Dark Forest Capital Management LP bought a new position in shares of Embecta Corp. (NASDAQ:EMBC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,079 shares of the company’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of EMBC. Norges Bank bought a new position in shares of Embecta during the 4th quarter worth about $7,653,000. Allianz Asset Management GmbH increased its stake in Embecta by 77.0% during the fourth quarter. Allianz Asset Management GmbH now owns 141,124 shares of the company’s stock valued at $2,671,000 after acquiring an additional 61,400 shares during the period. Capstone Investment Advisors LLC acquired a new position in Embecta in the 4th quarter valued at approximately $208,000. Vanguard Group Inc. lifted its position in shares of Embecta by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,026,076 shares of the company’s stock worth $133,004,000 after acquiring an additional 20,509 shares during the period. Finally, Cardinal Capital Management acquired a new stake in shares of Embecta during the 1st quarter worth approximately $134,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Embecta Stock Down 0.4 %

NASDAQ EMBC opened at $14.10 on Tuesday. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $19.79. The stock has a market cap of $813.15 million, a P/E ratio of 11.65 and a beta of 1.00. The company’s 50-day simple moving average is $15.16 and its 200 day simple moving average is $13.32.

Embecta (NASDAQ:EMBC) last issued its 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 business had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. Embecta’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. Research analysts anticipate that Embecta Corp. will post 2.43 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 4.26%. Embecta’s dividend payout ratio is presently 49.59%.

About Embecta

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.