Louisiana State Employees Retirement System Invests $543,000 in Embecta Corp. (NASDAQ:EMBC)

Louisiana State Employees Retirement System purchased a new stake in Embecta Corp. (NASDAQ:EMBC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,700 shares of the company’s stock, valued at approximately $543,000.

A number of other large investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in Embecta by 66.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,284 shares of the company’s stock worth $34,000 after acquiring an additional 910 shares during the last quarter. Signaturefd LLC increased its stake in shares of Embecta by 1,254.4% during the third quarter. Signaturefd LLC now owns 2,316 shares of the company’s stock worth $35,000 after purchasing an additional 2,145 shares during the period. NBC Securities Inc. acquired a new stake in Embecta during the 3rd quarter worth approximately $44,000. Allworth Financial LP lifted its holdings in Embecta by 200.1% during the 3rd quarter. Allworth Financial LP now owns 3,280 shares of the company’s stock worth $49,000 after purchasing an additional 2,187 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Embecta by 10.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,592 shares of the company’s stock valued at $174,000 after purchasing an additional 1,121 shares during the period. Institutional investors own 93.83% of the company’s stock.

Embecta Price Performance

EMBC stock opened at $10.44 on Tuesday. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $32.00. The stock has a market capitalization of $601.14 million, a price-to-earnings ratio of 10.99 and a beta of 0.73. The business’s fifty day moving average price is $12.65 and its two-hundred day moving average price is $15.39.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Friday, February 9th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.46 by $0.15. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The business had revenue of $277.30 million for the quarter, compared to the consensus estimate of $264.92 million. During the same period in the prior year, the company posted $0.93 earnings per share. Embecta’s revenue was up .6% compared to the same quarter last year. Research analysts expect that Embecta Corp. will post 2.14 EPS for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th were given a $0.15 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.75%. Embecta’s payout ratio is 63.16%.

Insider Activity at Embecta

In related news, Director David F. Melcher acquired 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $16.25 per share, with a total value of $32,500.00. Following the acquisition, the director now directly owns 45,080 shares of the company’s stock, valued at $732,550. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

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.