Los Angeles Capital Management LLC Cuts Stake in Embecta Corp. (NASDAQ:EMBC)

Los Angeles Capital Management LLC lowered its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,115 shares of the company’s stock after selling 5,500 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Embecta worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Copeland Capital Management LLC bought a new position in Embecta during the third quarter valued at approximately $43,000. Iat Reinsurance Co. LTD. purchased a new position in shares of Embecta in the second quarter valued at $50,000. CWM LLC grew its holdings in shares of Embecta by 773.8% in the second quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after purchasing an additional 8,040 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Embecta in the second quarter worth $140,000. Finally, Cardinal Capital Management lifted its position in Embecta by 16.8% during the second 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. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Stock Down 2.9 %

Shares of NASDAQ:EMBC opened at $14.62 on Friday. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79. The firm has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $13.86. The stock has a market capitalization of $843.60 million, a P/E ratio of 12.18 and a beta of 0.97.

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.