MetLife Investment Management LLC purchased a new position in Embecta Corp. (NASDAQ:EMBC – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,445 shares of the company’s stock, valued at approximately $877,000. MetLife Investment Management LLC owned 0.05% of Embecta as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EMBC. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Embecta in the 3rd quarter valued at $27,000. Copeland Capital Management LLC acquired a new position in shares of Embecta during the third quarter worth $28,000. Russell Investments Group Ltd. purchased a new stake in shares of Embecta during the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC purchased a new position in Embecta during the 3rd quarter worth $36,000. Finally, Hartford Financial Management Inc. acquired a new position in Embecta during the 3rd quarter valued at about $40,000. 93.45% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Morgan Stanley lowered Embecta from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Friday, January 6th.
Insider Transactions at Embecta
Embecta Trading Up 1.6 %
NASDAQ:EMBC opened at $32.46 on Thursday. The firm has a fifty day simple moving average of $27.27 and a 200-day simple moving average of $29.83. Embecta Corp. has a 12 month low of $22.30 and a 12 month high of $49.00.
Embecta (NASDAQ:EMBC – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.44. Embecta had a negative return on equity of 26.60% and a net margin of 14.34%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $261.77 million. On average, sell-side analysts predict that Embecta Corp. will post 2.33 earnings per share for the current year.
Embecta Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Monday, February 27th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 24th.
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 devices, as well as digital applications to assist people with managing their diabetes. The company primarily sells its products to wholesalers and distributors in the United States and internationally.
Read More
- Get a free copy of the StockNews.com research report on Embecta (EMBC)
- Jack in the Box Pops On Tasty Results, Robust Outlook
- How Low Can Lowe’s Companies Go?
- Ambarella: An AI Play In The Making
- Terran Orbital’s New $2.4 Billion Contract is a Game Changer
- Wendy’s Price Firms After Sizzling Quarter And Juicy Outlook
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 – Get Rating).
Receive News & Ratings for Embecta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Embecta and related companies with MarketBeat.com's FREE daily email newsletter.
