Hussman Strategic Advisors Inc. Invests $1.07 Million in Embecta Corp. (NASDAQ:EMBC)

Hussman Strategic Advisors Inc. acquired a new stake in Embecta Corp. (NASDAQ:EMBC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,000 shares of the company's stock, valued at approximately $1,071,000. Hussman Strategic Advisors Inc. owned 0.14% of Embecta as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in Embecta during the 1st quarter worth approximately $154,000. Prudential Financial Inc. grew its holdings in Embecta by 41.4% during the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company's stock worth $3,192,000 after acquiring an additional 45,290 shares during the period. Vanguard Group Inc. raised its position in shares of Embecta by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock worth $145,076,000 after acquiring an additional 28,031 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Embecta by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 289,605 shares of the company's stock valued at $3,692,000 after purchasing an additional 9,601 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Embecta by 52.7% during the 4th quarter. Renaissance Technologies LLC now owns 68,848 shares of the company's stock valued at $1,422,000 after purchasing an additional 23,748 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Embecta Stock Performance

Shares of NASDAQ EMBC traded up $0.40 during midday trading on Tuesday, hitting $10.69. 535,950 shares of the stock traded hands, compared to its average volume of 504,218. Embecta Corp. has a one year low of $9.20 and a one year high of $21.48. The company has a market cap of $624.72 million, a PE ratio of 11.88, a P/E/G ratio of 0.66 and a beta of 1.08. The business has a 50 day moving average price of $10.41 and a two-hundred day moving average price of $13.15.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The company had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The firm's revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, equities research 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 was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Wednesday, May 28th. Embecta's payout ratio is 66.67%.

Insider Activity at Embecta

In related news, Director David F. Melcher purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the acquisition, the director owned 86,681 shares of the company's stock, valued at $918,818.60. This trade represents a 13.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

EMBC has been the topic of a number of research analyst reports. Mizuho cut their price target on 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 raised shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, BTIG Research set a $25.00 price target on shares of Embecta and gave the company a "buy" rating in a research note on Friday, May 23rd.

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.