Public Sector Pension Investment Board Increases Holdings in Embecta Corp. $EMBC

Key Points

• The Public Sector Pension Investment Board increased its holdings in Embecta Corp. by 28.2%, owning 184,319 shares after purchasing an additional 40,564 shares in the first quarter.
• Embecta's recent quarterly earnings showed earnings per share of $1.12, surpassing estimates, with revenue of $295.5 million, reflecting an 8.4% year-over-year increase.
• The company declared a quarterly dividend of $0.15 per share, representing an annual yield of 4.4%, with a dividend payout ratio of 41.96%.

Public Sector Pension Investment Board boosted its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,319 shares of the company's stock after acquiring an additional 40,564 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Embecta worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EMBC. Wells Fargo & Company MN increased its stake in Embecta by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 53,241 shares of the company's stock valued at $1,099,000 after acquiring an additional 9,164 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Embecta by 13.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock valued at $282,000 after buying an additional 1,597 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Embecta by 151.9% during the fourth quarter. Russell Investments Group Ltd. now owns 54,371 shares of the company's stock valued at $1,123,000 after buying an additional 32,787 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Embecta by 52.7% during the fourth quarter. Renaissance Technologies LLC now owns 68,848 shares of the company's stock valued at $1,422,000 after buying an additional 23,748 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Embecta during the fourth quarter valued at about $6,598,000. Institutional investors own 93.83% of the company's stock.

Analysts Set New Price Targets

EMBC has been the topic of a number of recent research reports. Wall Street Zen raised Embecta from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. BTIG Research set a $25.00 target price on Embecta and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Mizuho cut their target price on Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $19.00.

Embecta Price Performance

EMBC traded down $0.1250 on Monday, hitting $14.2550. The company had a trading volume of 32,895 shares, compared to its average volume of 603,308. 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 $10.96 and a 200-day simple moving average of $11.96. The firm has a market capitalization of $833.77 million, a P/E ratio of 9.97, a P/E/G ratio of 0.80 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.35. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The firm 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 earned $0.74 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. Equities research analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, August 29th. Embecta's payout ratio is presently 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.