Russell Investments Group Ltd. Buys 208,170 Shares of Embecta Corp. $EMBC

Key Points

• Russell Investments Group Ltd. increased its stake in Embecta Corp. by 382.9% in Q1, acquiring an additional 208,170 shares and now holds approximately 0.45% of the company, valued at $3.35 million.
• Embecta reported strong earnings, with an EPS of $1.12 for Q2, exceeding estimates of $0.77, and revenue of $295.5 million, surpassing analyst predictions.
• The company announced a quarterly dividend of $0.15, representing an annual yield of 4.2%, with the ex-dividend date set for August 29th.

Russell Investments Group Ltd. increased its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 382.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 262,541 shares of the company's stock after acquiring an additional 208,170 shares during the quarter. Russell Investments Group Ltd. owned about 0.45% of Embecta worth $3,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthquest Corp bought a new position in shares of Embecta during the first quarter worth $48,000. Picton Mahoney Asset Management bought a new position in shares of Embecta during the first quarter worth $50,000. Ameriflex Group Inc. bought a new position in shares of Embecta during the fourth quarter worth $53,000. Siemens Fonds Invest GmbH bought a new position in shares of Embecta during the fourth quarter worth $77,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Embecta by 1,261.1% during the first quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the company's stock worth $94,000 after acquiring an additional 6,848 shares during the last quarter. Institutional investors own 93.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EMBC. Mizuho dropped their target price on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. BTIG Research set a $25.00 price objective on shares of Embecta and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Embecta from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Embecta has a consensus rating of "Hold" and a consensus target price of $19.00.

Embecta Stock Up 4.0%

EMBC stock opened at $14.38 on Friday. Embecta Corp. has a 52 week low of $9.20 and a 52 week high of $21.48. The company has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $12.00. The firm has a market capitalization of $841.09 million, a P/E ratio of 10.06, a price-to-earnings-growth 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, topping the consensus estimate of $0.77 by $0.35. The firm had revenue of $295.50 million during the quarter, compared to analyst estimates of $278.15 million. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The business's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. As a group, analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 29th. Embecta's dividend payout ratio (DPR) is 41.96%.

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.

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