Sei Investments Co. Buys 11,110 Shares of Embecta Corp. (NASDAQ:EMBC)

Sei Investments Co. lifted its stake in Embecta Corp. (NASDAQ:EMBC) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,221 shares of the company’s stock after acquiring an additional 11,110 shares during the period. Sei Investments Co. owned 0.65% of Embecta worth $4,665,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Embecta in the fourth quarter worth about $7,653,000. Jacobs Levy Equity Management Inc. grew its position 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 worth $8,536,000 after buying an additional 313,951 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Embecta by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after acquiring an additional 187,916 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Embecta during the second quarter valued at approximately $1,663,000. Finally, Keeley Teton Advisors LLC boosted 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 in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $14.11 on Wednesday. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $19.79. The company has a market cap of $813.72 million, a PE ratio of 11.66 and a beta of 1.00. The business has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $13.32.

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $267.44 million. During the same period last year, the business earned $0.69 EPS. Embecta’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, sell-side analysts predict that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s payout ratio is 49.59%.

Wall Street Analyst Weigh In

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