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

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

Several other institutional investors and hedge funds have also made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its stake in Embecta by 9.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock valued at $140,000 after acquiring an additional 907 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Embecta by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock worth $361,000 after buying an additional 923 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after buying an additional 1,497 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Embecta by 13.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock worth $282,000 after buying an additional 1,597 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Embecta by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock worth $846,000 after buying an additional 1,743 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Stock Down 0.7%

EMBC stock traded down $0.07 during mid-day trading on Friday, reaching $9.78. 469,428 shares of the stock traded hands, compared to its average volume of 505,538. The business has a 50-day moving average of $10.45 and a two-hundred day moving average of $13.27. Embecta Corp. has a 52 week low of $9.20 and a 52 week high of $21.48. The firm has a market capitalization of $571.57 million, a PE ratio of 10.87, a P/E/G ratio of 0.63 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. On average, equities research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a yield of 6.13%. Embecta's payout ratio is presently 66.67%.

Insider Transactions at Embecta

In other news, Director David F. Melcher purchased 10,000 shares of Embecta stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $10.60 per share, with a total value of $106,000.00. Following the completion of the transaction, the director directly owned 86,681 shares in the company, valued at $918,818.60. This trade represents a 13.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EMBC shares. Mizuho dropped their price objective on Embecta from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday. BTIG Research set a $25.00 target price on Embecta and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

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.