Quarry LP Makes New $30,000 Investment in Embecta Corp. (NASDAQ:EMBC)

Quarry LP purchased a new position in shares of Embecta Corp. (NASDAQ:EMBC) 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 (NASDAQ:EMBC) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. Embecta had a negative return on equity of 18.54% and a net margin of 6.97%. The company had revenue of $286.10 million during the quarter, compared to analysts’ expectations of $276.97 million. During the same quarter in the previous year, the business earned $0.59 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Embecta Corp. will post 2.84 EPS for the current year.

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.

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.