Embecta Corp. $EMBC Stock Holdings Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in shares of Embecta Corp. (NASDAQ:EMBC) by 12.6% during the 2nd quarter, Holdings Channel reports. The firm owned 79,974 shares of the company’s stock after selling 11,551 shares during the period. Teacher Retirement System of Texas’ holdings in Embecta were worth $775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group boosted its stake in Embecta by 1,164.1% during the first quarter. Brooklyn Investment Group now owns 3,590 shares of the company’s stock valued at $46,000 after buying an additional 3,306 shares in the last quarter. Banque Transatlantique SA raised its position in Embecta by 879.1% in the first quarter. Banque Transatlantique SA now owns 3,701 shares of the company’s stock worth $44,000 after acquiring an additional 3,323 shares in the last quarter. Wealthquest Corp acquired a new stake in Embecta in the 1st quarter valued at about $48,000. Picton Mahoney Asset Management bought a new position in shares of Embecta during the 1st quarter valued at about $50,000. Finally, CWM LLC grew its stake in shares of Embecta by 16.0% in the 2nd quarter. CWM LLC now owns 8,080 shares of the company’s stock worth $78,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Up 2.5%

NASDAQ EMBC opened at $13.79 on Friday. The stock has a market capitalization of $806.58 million, a PE ratio of 9.64, a price-to-earnings-growth ratio of 0.75 and a beta of 1.10. Embecta Corp. has a 12-month low of $9.20 and a 12-month high of $21.48. The company has a 50 day moving average price of $14.20 and a two-hundred day moving average price of $12.31.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.35. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The business had revenue of $295.50 million for the quarter, compared to the consensus estimate of $278.15 million. During the same quarter last year, the firm earned $0.74 EPS. Embecta’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on EMBC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Embecta in a report on Wednesday, October 8th. Wall Street Zen raised Embecta from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 16th. BTIG Research reiterated a “buy” rating and set a $25.00 price objective on shares of Embecta in a research report on Friday, September 5th. Zacks Research lowered Embecta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Mizuho cut their target price on Embecta from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Embecta presently has a consensus rating of “Hold” and a consensus target price of $19.00.

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.