Quarry LP purchased a new position in shares of Embecta Corp. (NASDAQ:EMBC – Free Report) in the third quarter, Holdings Channel reports. The fund purchased 2,161 shares of the company’s stock, valued at approximately $30,000.
Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in Embecta by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock valued at $39,538,000 after acquiring an additional 18,933 shares during the period. Rubric Capital Management LP acquired a new position in shares of Embecta during the 3rd quarter valued at about $15,306,000. Bank of New York Mellon Corp boosted its position in shares of Embecta by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock valued at $9,920,000 after acquiring an additional 12,424 shares during the last quarter. AQR Capital Management LLC raised its holdings in Embecta by 136.2% in the 2nd quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock valued at $7,683,000 after buying an additional 354,454 shares during the period. Finally, Marshall Wace LLP raised its holdings in Embecta by 15.2% in the 2nd quarter. Marshall Wace LLP now owns 479,515 shares of the company’s stock valued at $5,994,000 after buying an additional 63,169 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.
Embecta Trading Down 1.2 %
Embecta stock opened at $19.68 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of 14.58, a P/E/G ratio of 1.04 and a beta of 1.24. The stock has a 50-day moving average price of $15.70 and a 200 day moving average price of $14.59. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $21.48.
Embecta Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, December 6th. Embecta’s payout ratio is 44.44%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on EMBC shares. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $20.00 in a report on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, November 27th.
Read Our Latest Research Report on Embecta
Embecta Company 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.
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