Commerzbank Aktiengesellschaft FI Invests $470,000 in Embecta Corp. (NASDAQ:EMBC)

Commerzbank Aktiengesellschaft FI bought a new position in shares of Embecta Corp. (NASDAQ:EMBC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 33,346 shares of the company’s stock, valued at approximately $470,000. Commerzbank Aktiengesellschaft FI owned approximately 0.06% of Embecta at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LSV Asset Management raised its position in Embecta by 205.6% in the 1st quarter. LSV Asset Management now owns 110,700 shares of the company’s stock valued at $1,469,000 after purchasing an additional 74,480 shares in the last quarter. Sei Investments Co. increased its position in Embecta by 15.9% during the first quarter. Sei Investments Co. now owns 362,111 shares of the company’s stock worth $4,805,000 after buying an additional 49,551 shares during the period. Public Employees Retirement System of Ohio increased its position in Embecta by 1,135.6% during the first quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock worth $534,000 after buying an additional 37,009 shares during the period. Vanguard Group Inc. increased its position in Embecta by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after buying an additional 187,916 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Embecta by 281.8% in the second quarter. Algert Global LLC now owns 153,953 shares of the company’s stock valued at $1,924,000 after purchasing an additional 113,633 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analysts Set New Price Targets

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

Embecta Stock Performance

EMBC opened at $14.02 on Thursday. The business’s fifty day moving average is $14.58 and its two-hundred day moving average is $13.40. The company has a market cap of $808.53 million, a price-to-earnings ratio of 11.59 and a beta of 0.98. Embecta Corp. has a one year low of $9.93 and a one year high of $19.79.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data 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. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The business had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. On average, analysts predict that Embecta Corp. will post 2.43 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 4.28%. Embecta’s dividend payout ratio is currently 49.59%.

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.