Creative Planning Invests $454,000 in Embecta Corp. (NASDAQ:EMBC)

Creative Planning purchased a new stake in shares of Embecta Corp. (NASDAQ:EMBC) during the second quarter, Holdings Channel reports. The firm purchased 36,302 shares of the company’s stock, valued at approximately $454,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EMBC. Iat Reinsurance Co. LTD. purchased a new position in shares of Embecta during the 2nd quarter valued at about $50,000. CWM LLC raised its position in Embecta by 773.8% in the 2nd 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 period. Cardinal Capital Management bought a new position in shares of Embecta during the first quarter valued at about $134,000. Canada Pension Plan Investment Board purchased a new stake in Embecta during the 2nd quarter valued at about $140,000. Finally, Inspire Advisors LLC lifted its position in Embecta by 12.1% in the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock valued at $164,000 after purchasing an additional 1,334 shares during the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Performance

Shares of EMBC stock opened at $13.54 on Wednesday. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $19.79. The firm has a market cap of $780.85 million, a P/E ratio of 11.19 and a beta of 0.98. The business’s 50 day moving average price is $14.69 and its 200-day moving average price is $13.35.

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 analysts’ consensus estimates of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. 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 previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts predict that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Dividend Announcement

The business also recently declared 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 of this dividend was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.43%. Embecta’s dividend payout ratio is currently 49.59%.

Analysts Set New Price Targets

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

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.