Embecta Corp. $EMBC Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in Embecta Corp. by 65.7% during the 1st quarter, owning approximately 0.09% of the company valued at $646,000.
• Embecta reported a quarterly EPS of $1.12, surpassing estimates by $0.35, and observed an 8.4% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.15 per share, yielding 4.0%, with the next payment scheduled for September 15th.

Comerica Bank increased its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 65.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,641 shares of the company's stock after buying an additional 20,079 shares during the quarter. Comerica Bank owned about 0.09% of Embecta worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of Embecta by 9.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock worth $140,000 after buying an additional 907 shares during the period. Mackenzie Financial Corp raised its position in Embecta by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock valued at $846,000 after purchasing an additional 1,743 shares during the period. Isthmus Partners LLC raised its position in Embecta by 2.3% in the first quarter. Isthmus Partners LLC now owns 111,614 shares of the company's stock valued at $1,423,000 after purchasing an additional 2,510 shares during the period. Ameriflex Group Inc. purchased a new position in Embecta in the fourth quarter valued at about $53,000. Finally, Inspire Advisors LLC raised its position in Embecta by 9.8% in the first quarter. Inspire Advisors LLC now owns 35,475 shares of the company's stock valued at $452,000 after purchasing an additional 3,168 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EMBC has been the topic of several research reports. BTIG Research reissued a "buy" rating and issued a $25.00 price objective on shares of Embecta in a research report on Friday, September 5th. Mizuho cut their price objective on Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Zacks Research raised Embecta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded Embecta from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Embecta Stock Down 2.0%

Shares of Embecta stock traded down $0.30 during trading hours on Friday, hitting $15.01. 332,878 shares of the company's stock traded hands, compared to its average volume of 482,119. The stock has a 50 day simple moving average of $12.38 and a 200-day simple moving average of $11.92. The company has a market cap of $877.93 million, a PE ratio of 10.50, a PEG ratio of 0.85 and a beta of 1.12. Embecta Corp. has a twelve month low of $9.20 and a twelve month high of $21.48.

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

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 29th. Embecta's dividend payout ratio (DPR) is 41.96%.

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.