Nisa Investment Advisors LLC Decreases Stake in Embecta Corp. (NASDAQ:EMBC)

Nisa Investment Advisors LLC lowered its stake in Embecta Corp. (NASDAQ:EMBC) by 55.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,771 shares of the company’s stock after selling 14,624 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Embecta were worth $166,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC raised its holdings in Embecta by 11.3% during the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after buying an additional 1,023 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Embecta by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after acquiring an additional 1,025 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Embecta by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after acquiring an additional 1,179 shares during the last quarter. Inspire Advisors LLC boosted its holdings 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 during the period. Finally, Bayesian Capital Management LP grew its stake in shares of Embecta by 13.3% in the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 9.1 %

Shares of Embecta stock opened at $16.33 on Thursday. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $19.79. The company has a market cap of $942.24 million, a P/E ratio of 13.61 and a beta of 0.97. The company’s fifty day simple moving average is $14.66 and its two-hundred day simple moving average is $13.65.

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

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 3.67%. Embecta’s dividend payout ratio is presently 50.00%.

Analyst Ratings Changes

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

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.