Dynamic Technology Lab Private Ltd Cuts Holdings in Embecta Corp. (NASDAQ:EMBC)

Dynamic Technology Lab Private Ltd lessened its stake in Embecta Corp. (NASDAQ:EMBC) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 21,391 shares of the company’s stock after selling 1,453 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Embecta were worth $302,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC bought a new stake in shares of Embecta in the 3rd quarter valued at about $43,000. Iat Reinsurance Co. LTD. acquired a new stake in Embecta in the second quarter valued at approximately $50,000. CWM LLC grew its holdings in Embecta by 773.8% in the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after purchasing an additional 8,040 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Embecta during the second quarter worth $140,000. Finally, Cardinal Capital Management lifted its holdings in shares of Embecta by 16.8% during the 2nd quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock valued at $147,000 after purchasing an additional 1,691 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, November 27th.

Embecta Stock Up 1.2 %

Shares of Embecta stock opened at $20.83 on Monday. The company has a 50 day moving average price of $14.68 and a 200 day moving average price of $14.21. The firm has a market capitalization of $1.20 billion, a P/E ratio of 15.43 and a beta of 0.97. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $20.86.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. Embecta’s dividend payout ratio is currently 44.44%.

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.