Barclays PLC Boosts Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Barclays PLC raised its stake in Embecta Corp. (NASDAQ:EMBC) by 41.1% during the third quarter, Holdings Channel reports. The firm owned 97,930 shares of the company’s stock after purchasing an additional 28,523 shares during the period. Barclays PLC’s holdings in Embecta were worth $1,381,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Embecta by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock valued at $9,920,000 after acquiring an additional 12,424 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Embecta by 14.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,184 shares of the company’s stock valued at $215,000 after purchasing an additional 2,181 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Embecta during the 2nd quarter worth about $364,000. Versor Investments LP grew its holdings in shares of Embecta by 49.9% during the 2nd quarter. Versor Investments LP now owns 31,029 shares of the company’s stock worth $388,000 after purchasing an additional 10,329 shares during the period. Finally, Iat Reinsurance Co. LTD. acquired a new stake in Embecta during the 2nd quarter worth approximately $50,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EMBC. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $20.00 in a research report on Monday, December 2nd. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, November 27th.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $20.70 on Friday. The business’s 50-day simple moving average is $17.22 and its 200 day simple moving average is $15.16. The company has a market cap of $1.20 billion, a P/E ratio of 15.33, a PEG ratio of 1.08 and a beta of 1.25. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $286.10 million for the quarter, compared to analyst estimates of $276.97 million. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Analysts predict that Embecta Corp. will post 2.84 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.90%. Embecta’s payout ratio is currently 44.44%.

Embecta Company 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.