Natixis Advisors LLC Buys 1,648 Shares of Embecta Corp. (NASDAQ:EMBC)

Natixis Advisors LLC raised its stake in Embecta Corp. (NASDAQ:EMBC) by 5.7% in the third quarter, Holdings Channel reports. The firm owned 30,735 shares of the company’s stock after acquiring an additional 1,648 shares during the quarter. Natixis Advisors LLC’s holdings in Embecta were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock valued at $95,730,000 after purchasing an additional 187,916 shares in the last quarter. American Century Companies Inc. grew its stake in Embecta by 0.6% in the second quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock valued at $39,538,000 after purchasing an additional 18,933 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 purchasing an additional 12,424 shares in the last quarter. AQR Capital Management LLC grew its stake in Embecta by 136.2% in the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after purchasing an additional 354,454 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Embecta by 15.2% in the second quarter. Marshall Wace LLP now owns 479,515 shares of the company’s stock valued at $5,994,000 after purchasing an additional 63,169 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday.

Embecta Stock Up 10.1 %

EMBC opened at $20.59 on Friday. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $20.80. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 17.16 and a beta of 0.97. The business has a 50 day moving average of $14.48 and a 200-day moving average of $14.11.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.91%. Embecta’s payout ratio is 50.00%.

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.