3,767 Shares in Embecta Corp. (NASDAQ:EMBC) Purchased by Wealthquest Corp

Wealthquest Corp bought a new position in Embecta Corp. (NASDAQ:EMBC) in the first quarter, Holdings Channel.com reports. The firm bought 3,767 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EMBC. Oppenheimer Asset Management Inc. increased its stake in shares of Embecta by 9.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company’s stock valued at $140,000 after buying an additional 907 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Embecta by 1,261.1% in the first quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the company’s stock valued at $94,000 after buying an additional 6,848 shares during the period. GAMMA Investing LLC increased its stake in shares of Embecta by 2,100.4% in the first quarter. GAMMA Investing LLC now owns 19,826 shares of the company’s stock valued at $253,000 after buying an additional 18,925 shares during the period. Siemens Fonds Invest GmbH acquired a new position in shares of Embecta in the fourth quarter valued at approximately $77,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Embecta in the fourth quarter valued at approximately $53,000. Institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EMBC. Mizuho decreased their target price on shares of Embecta from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. BTIG Research set a $25.00 target price on shares of Embecta and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Embecta from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In other Embecta news, Director David F. Melcher purchased 10,000 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the acquisition, the director now owns 86,681 shares of the company’s stock, valued at approximately $918,818.60. This represents a 13.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Embecta Stock Performance

NASDAQ:EMBC opened at $9.93 on Thursday. The company has a market capitalization of $580.31 million, a PE ratio of 11.03, a P/E/G ratio of 0.65 and a beta of 1.13. The company has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $14.50. Embecta Corp. has a fifty-two week low of $9.49 and a fifty-two week high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million for the quarter, compared to analysts’ expectations of $261.77 million. Embecta had a negative return on equity of 19.67% and a net margin of 4.89%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. Research analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date was Wednesday, May 28th. Embecta’s payout ratio is 66.67%.

About Embecta

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.