Martingale Asset Management L P Raises Position in Embecta Corp. $EMBC

Key Points

• Martingale Asset Management L P increased its stake in Embecta Corp. by 104.4% in the first quarter, acquiring an additional 22,713 shares totaling 44,477 shares worth approximately $567,000.
• Embecta recently reported earnings with an EPS of $1.12, outperforming analysts' estimates of $0.77, while quarterly revenue increased by 8.4% year-over-year to $295.50 million.
• The company declared a quarterly dividend of $0.15 per share, representing a dividend yield of 4.2% and set its FY 2025 earnings guidance at 2.900-2.950 EPS.

Martingale Asset Management L P raised its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 104.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,477 shares of the company's stock after buying an additional 22,713 shares during the quarter. Martingale Asset Management L P owned approximately 0.08% of Embecta worth $567,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EMBC. Brooklyn Investment Group grew its holdings in shares of Embecta by 1,164.1% in the first quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock valued at $46,000 after purchasing an additional 3,306 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Embecta by 2.1% in the first quarter. Raymond James Financial Inc. now owns 326,156 shares of the company's stock valued at $4,158,000 after purchasing an additional 6,640 shares during the period. Meros Investment Management LP grew its stake in shares of Embecta by 37.2% in the 1st quarter. Meros Investment Management LP now owns 339,406 shares of the company's stock valued at $4,327,000 after buying an additional 92,094 shares during the period. American Century Companies Inc. grew its stake in shares of Embecta by 16.9% in the 1st quarter. American Century Companies Inc. now owns 3,813,411 shares of the company's stock valued at $48,621,000 after buying an additional 551,477 shares during the period. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Embecta by 8.2% in the 1st quarter. Brandywine Global Investment Management LLC now owns 211,797 shares of the company's stock valued at $2,700,000 after buying an additional 16,029 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Performance

Shares of EMBC traded down $0.02 during midday trading on Friday, hitting $14.48. 366,799 shares of the stock were exchanged, compared to its average volume of 688,264. Embecta Corp. has a 52-week low of $9.20 and a 52-week high of $21.48. The stock has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $11.87. The firm has a market cap of $846.94 million, a P/E ratio of 10.13, a P/E/G ratio of 0.80 and a beta of 1.11.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported $1.12 EPS for the quarter, topping 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 last year, the business posted $0.74 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. As a group, equities research analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on EMBC. 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. Zacks Research upgraded Embecta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded Embecta from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Finally, Mizuho lowered their price target on Embecta from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.00.

About Embecta

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.