State of Alaska Department of Revenue Purchases 52,566 Shares of Embecta Corp. $EMBC

Key Points

• The State of Alaska Department of Revenue has increased its stake in Embecta Corp. by 15.1%, now owning approximately 401,112 shares valued at $3,885,000.
• Embecta reported a quarterly EPS of $1.12, beating estimates by $0.35 and showing an 8.4% increase in revenue year-over-year.
• The company recently paid a quarterly dividend of $0.15, resulting in an annualized dividend yield of 4.3%.

State of Alaska Department of Revenue increased its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,112 shares of the company's stock after purchasing an additional 52,566 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.69% of Embecta worth $3,885,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group increased its position in Embecta by 1,164.1% during the 1st quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock worth $46,000 after purchasing an additional 3,306 shares in the last quarter. Banque Transatlantique SA increased its position in Embecta by 879.1% during the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock worth $44,000 after purchasing an additional 3,323 shares in the last quarter. Wealthquest Corp acquired a new position in Embecta during the 1st quarter worth approximately $48,000. Picton Mahoney Asset Management acquired a new position in Embecta during the 1st quarter worth approximately $50,000. Finally, Exchange Traded Concepts LLC increased its position in Embecta by 1,261.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the company's stock worth $94,000 after purchasing an additional 6,848 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $14.00 on Tuesday. Embecta Corp. has a 52-week low of $9.20 and a 52-week high of $21.48. The firm has a 50 day moving average price of $13.34 and a two-hundred day moving average price of $12.00. The stock has a market cap of $818.79 million, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.35. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The company had revenue of $295.50 million for the quarter, compared to analyst estimates of $278.15 million. During the same period in the prior year, the firm posted $0.74 EPS. 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. Analysts predict 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, August 29th. Embecta's dividend payout ratio is currently 41.96%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EMBC shares. Zacks Research upgraded shares of Embecta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. BTIG Research restated a "buy" rating and issued a $25.00 price target on shares of Embecta in a research report on Friday, September 5th. Mizuho decreased their price target 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. 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 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

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.

Want to see what other hedge funds are holding EMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Embecta Corp. (NASDAQ:EMBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.