Vanguard Group Inc. Has $85.87 Million Stake in Embecta Corp. $EMBC

Key Points

• Vanguard Group Inc. reduced its stake in Embecta Corp. by 4.1% in Q1 2023, holding approximately 6.74 million shares worth about $85.87 million.
• Embecta reported earnings of $1.12 per share for the recent quarter, exceeding estimates by $0.35, and had revenues of $295.50 million, up 8.4% year-over-year.
• The company announced a quarterly dividend of $0.15 per share, representing a 4.2% yield, to be paid on September 15th.

Vanguard Group Inc. decreased its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,735,173 shares of the company's stock after selling 290,310 shares during the quarter. Vanguard Group Inc. owned 11.59% of Embecta worth $85,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EMBC. Deerfield Management Company L.P. Series C lifted its stake in Embecta by 19.8% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock valued at $67,537,000 after buying an additional 540,192 shares during the period. Jefferies Financial Group Inc. raised its position in shares of Embecta by 60.1% during the first quarter. Jefferies Financial Group Inc. now owns 573,000 shares of the company's stock worth $7,306,000 after purchasing an additional 215,000 shares during the period. Ancora Advisors LLC raised its position in shares of Embecta by 275.9% during the fourth quarter. Ancora Advisors LLC now owns 254,156 shares of the company's stock worth $5,248,000 after purchasing an additional 186,550 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Embecta during the first quarter worth about $1,071,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Embecta by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 566,993 shares of the company's stock worth $11,708,000 after purchasing an additional 73,165 shares during the period. Institutional investors and hedge funds own 93.83% of the company's stock.

Embecta Price Performance

EMBC stock traded down $0.02 during mid-day trading on Friday, reaching $14.48. The company had a trading volume of 366,799 shares, compared to its average volume of 703,598. The stock has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $11.93. The company has a market capitalization of $846.94 million, a price-to-earnings ratio of 10.13, a PEG ratio of 0.80 and a beta of 1.08. Embecta Corp. has a 52 week low of $9.20 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.35. The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $278.15 million. Embecta had a negative return on equity of 23.40% and a net margin of 7.58%.The business's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. On average, equities analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.15 dividend. 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 currently 41.96%.

Wall Street Analyst Weigh In

EMBC has been the topic of a number of research analyst reports. BTIG Research set a $25.00 price target on Embecta and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Embecta from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Zacks Research raised Embecta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Mizuho dropped their price target on Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Embecta Company 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.