Wealthquest Corp Invests $48,000 in Embecta Corp. (NASDAQ:EMBC)

Wealthquest Corp purchased a new position in shares of Embecta Corp. (NASDAQ:EMBC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,767 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after acquiring an additional 774 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock worth $35,000 after acquiring an additional 1,497 shares during the last quarter. Ameriflex Group Inc. bought a new position in Embecta during the 4th quarter worth approximately $53,000. Siemens Fonds Invest GmbH bought a new position in Embecta during the 4th quarter worth approximately $77,000. Finally, Tower Research Capital LLC TRC boosted its stake in Embecta by 111.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company’s stock worth $150,000 after acquiring an additional 3,835 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EMBC shares. Mizuho cut their price target on shares of Embecta from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen raised shares of Embecta from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, BTIG Research set a $25.00 price target on shares of Embecta and gave the company a “buy” rating in a research note on Friday, May 23rd.

Insider Activity

In other news, Director David F. Melcher bought 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director now owns 86,681 shares in the company, valued at approximately $918,818.60. This represents a 13.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

Embecta Stock Performance

Shares of EMBC opened at $9.93 on Thursday. Embecta Corp. has a twelve month low of $9.49 and a twelve month high of $21.48. The firm’s 50 day moving average price is $11.11 and its two-hundred day moving average price is $14.50. The firm has a market cap of $580.31 million, a P/E ratio of 11.03, a PEG ratio of 0.65 and a beta of 1.13.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The company had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a $0.15 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.04%. Embecta’s dividend payout ratio (DPR) is presently 66.67%.

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.