Walleye Capital LLC Raises Stake in Embecta Corp. $EMBC

Key Points

• Walleye Capital LLC has increased its stake in Embecta Corp. by 75.9%, owning approximately 294,698 shares valued at $3,757,000.
• Embecta reported a quarterly earnings beat with an EPS of $1.12, exceeding the consensus estimate of $0.77, alongside a revenue of $295.50 million.
• The company has announced a quarterly dividend of $0.15 per share, representing an annualized yield of 4.2%, with the payment date set for September 15th.

Walleye Capital LLC boosted its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 75.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 294,698 shares of the company's stock after buying an additional 127,200 shares during the period. Walleye Capital LLC owned approximately 0.51% of Embecta worth $3,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EMBC. Oppenheimer Asset Management Inc. raised its stake in shares of Embecta by 9.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock valued at $140,000 after acquiring an additional 907 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Embecta by 13.3% in the 4th 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 period. Mackenzie Financial Corp raised its holdings in shares of Embecta by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock valued at $846,000 after buying an additional 1,743 shares during the period. Isthmus Partners LLC raised its holdings in shares of Embecta by 2.3% in the 1st quarter. Isthmus Partners LLC now owns 111,614 shares of the company's stock valued at $1,423,000 after buying an additional 2,510 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in Embecta during the 4th quarter worth approximately $53,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Embecta Stock Down 0.1%

NASDAQ:EMBC traded down $0.02 during mid-day trading on Friday, reaching $14.48. 366,799 shares of the stock were exchanged, compared to its average volume of 703,598. The stock has a market capitalization of $846.94 million, a P/E ratio of 10.13, a P/E/G ratio of 0.80 and a beta of 1.08. The company has a 50 day simple moving average of $11.41 and a 200-day simple moving average of $11.90. Embecta Corp. has a 1 year low of $9.20 and a 1 year high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $1.12 earnings per share for the quarter, beating 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 company had revenue of $295.50 million for the quarter, compared to the consensus estimate of $278.15 million. During the same period last year, the business posted $0.74 EPS. The company'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. As a group, research analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 4.1%. The ex-dividend date of this dividend is Friday, August 29th. Embecta's payout ratio is currently 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.