Mirova Purchases Shares of 29,082 Embecta Corp. $EMBC

Key Points

• Mirova acquired 29,082 shares of Embecta Corp., amounting to approximately $371,000, increasing its ownership to 0.05% as of the latest quarter.
• Embecta has announced a quarterly dividend of $0.15 per share, representing a dividend yield of 4.2% and a payout ratio of 41.96%.
• The company reported a strong earnings performance with EPS of $1.12, exceeding consensus estimates and marking an 8.4% increase in revenue compared to the same quarter last year.

Mirova acquired a new position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,082 shares of the company's stock, valued at approximately $371,000. Mirova owned about 0.05% of Embecta at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in Embecta during the first quarter worth about $154,000. Principal Financial Group Inc. lifted its stake in Embecta by 3.4% in the first quarter. Principal Financial Group Inc. now owns 289,605 shares of the company's stock worth $3,692,000 after acquiring an additional 9,601 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Embecta by 52.7% during the fourth quarter. Renaissance Technologies LLC now owns 68,848 shares of the company's stock worth $1,422,000 after purchasing an additional 23,748 shares in the last quarter. GAMMA Investing LLC raised its holdings in Embecta by 2,100.4% during the first quarter. GAMMA Investing LLC now owns 19,826 shares of the company's stock worth $253,000 after purchasing an additional 18,925 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Embecta by 10.5% during the fourth quarter. Northern Trust Corp now owns 700,972 shares of the company's stock worth $14,475,000 after purchasing an additional 66,367 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EMBC shares. Mizuho cut their target price on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Embecta from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. BTIG Research set a $25.00 target price on shares of Embecta and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Zacks Research raised shares of Embecta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Embecta Trading Up 1.1%

NASDAQ EMBC traded up $0.17 during trading on Friday, reaching $14.52. 119,944 shares of the company's stock were exchanged, compared to its average volume of 599,716. The firm has a market capitalization of $848.98 million, a PE ratio of 10.15, a P/E/G ratio of 0.81 and a beta of 1.08. Embecta Corp. has a fifty-two week low of $9.20 and a fifty-two week high of $21.48. The company's fifty day simple moving average is $11.32 and its 200-day simple moving average is $11.95.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.35. Embecta had a negative return on equity of 23.40% and a net margin of 7.58%.The business had revenue of $295.50 million during the quarter, compared to analyst estimates of $278.15 million. During the same period in the previous year, the company earned $0.74 EPS. The firm's revenue was up 8.4% on a year-over-year basis. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. Equities analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. Embecta's payout ratio is currently 41.96%.

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.