1,085,529 Shares in Embecta Corp. (NASDAQ:EMBC) Purchased by Rubric Capital Management LP

Rubric Capital Management LP acquired a new stake in Embecta Corp. (NASDAQ:EMBC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,085,529 shares of the company’s stock, valued at approximately $15,306,000.

A number of other institutional investors also recently modified their holdings of EMBC. CWM LLC increased its holdings in shares of Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after purchasing an additional 1,023 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Embecta by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after buying an additional 1,025 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Embecta by 3.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after buying an additional 1,179 shares during the period. Bayesian Capital Management LP raised its position in shares of Embecta by 13.3% during the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock worth $169,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Ceera Investments LLC lifted its stake in shares of Embecta by 0.9% during the second quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after acquiring an additional 1,514 shares during the period. 93.83% of the stock is owned by institutional investors.

Embecta Stock Performance

EMBC opened at $18.70 on Wednesday. The company has a fifty day moving average price of $14.38 and a two-hundred day moving average price of $14.07. The firm has a market capitalization of $1.08 billion, a PE ratio of 15.58 and a beta of 0.97. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $20.80.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.21%. Embecta’s dividend payout ratio is presently 50.00%.

Analyst Ratings Changes

Separately, BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday.

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.