Embecta Corp. (NASDAQ:EMBC) Shares Bought by Meros Investment Management LP

Key Points

• Meros Investment Management LP increased its stake in Embecta Corp. by 37.2%, owning a total of 339,406 shares valued at approximately $4.3 million.
• Embecta reported $1.12 earnings per share, exceeding analysts' estimates and marking an 8.4% year-on-year revenue growth.
• The company declared a quarterly dividend of $0.15, representing an annual yield of 4.4%, with payment scheduled for September 15th.

Meros Investment Management LP raised its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 37.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 339,406 shares of the company's stock after buying an additional 92,094 shares during the quarter. Embecta comprises about 2.5% of Meros Investment Management LP's holdings, making the stock its 16th largest position. Meros Investment Management LP owned approximately 0.58% of Embecta worth $4,327,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EMBC. Sterling Capital Management LLC increased its stake in Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after buying an additional 1,497 shares during the period. Wealthquest Corp acquired a new position in Embecta in the 1st quarter valued at $48,000. Picton Mahoney Asset Management acquired a new position in Embecta in the 1st quarter valued at $50,000. Ameriflex Group Inc. acquired a new position in Embecta in the 4th quarter valued at $53,000. Finally, Siemens Fonds Invest GmbH acquired a new position in Embecta in the 4th quarter valued at $77,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EMBC has been the topic of several recent research reports. Wall Street Zen raised shares of Embecta from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Mizuho lowered their price target on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Finally, BTIG Research set a $25.00 price target on shares of Embecta and gave the stock a "buy" rating in a research note on Friday, May 23rd.

Insider Buying and Selling

In other Embecta news, Director David F. Melcher acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $10.60 per share, with a total value of $106,000.00. Following the purchase, the director owned 86,681 shares in the company, valued at approximately $918,818.60. The trade was a 13.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.42% of the company's stock.

Embecta Stock Down 1.3%

NASDAQ:EMBC opened at $13.69 on Friday. Embecta Corp. has a fifty-two week low of $9.20 and a fifty-two week high of $21.48. The stock has a market cap of $800.73 million, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The firm's fifty day simple moving average is $10.57 and its 200-day simple moving average is $12.19.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.35. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The business had revenue of $295.50 million for the quarter, compared to analysts' expectations of $278.15 million. During the same period in the prior year, the company posted $0.74 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The firm also recently disclosed 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 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Embecta's dividend payout ratio is presently 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.

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