Louisiana State Employees Retirement System Has $393,000 Holdings in Embecta Corp. (NASDAQ:EMBC)

Louisiana State Employees Retirement System decreased its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,900 shares of the company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Embecta were worth $393,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EMBC. LSV Asset Management grew its position in shares of Embecta by 205.6% during the 1st quarter. LSV Asset Management now owns 110,700 shares of the company’s stock worth $1,469,000 after buying an additional 74,480 shares during the period. Sei Investments Co. grew its position in shares of Embecta by 15.9% during the 1st 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. Inspire Advisors LLC grew its position in shares of Embecta by 12.1% during the 1st quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after buying an additional 1,334 shares during the period. Russell Investments Group Ltd. grew its position in shares of Embecta by 3.2% during the 1st quarter. Russell Investments Group Ltd. now owns 59,215 shares of the company’s stock worth $786,000 after buying an additional 1,827 shares during the period. Finally, Isthmus Partners LLC grew its position in shares of Embecta by 49.0% during the 1st quarter. Isthmus Partners LLC now owns 133,266 shares of the company’s stock worth $1,768,000 after buying an additional 43,844 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $16.33 on Thursday. The stock has a market cap of $942.24 million, a P/E ratio of 13.61 and a beta of 0.97. The firm has a 50 day moving average price of $14.66 and a 200 day moving average price of $13.65. Embecta Corp. has a 52-week low of $9.93 and a 52-week 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 analysts’ consensus estimates of $0.46 by $0.28. The firm had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $267.44 million. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Analysts predict that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their price target on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating for the company 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.