31,063 Shares in Embecta Corp. (NASDAQ:EMBC) Purchased by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC acquired a new stake in shares of Embecta Corp. (NASDAQ:EMBC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,063 shares of the company’s stock, valued at approximately $438,000. Garden State Investment Advisory Services LLC owned 0.05% of Embecta at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new position in shares of Embecta during the 3rd quarter valued at approximately $43,000. Iat Reinsurance Co. LTD. purchased a new position in Embecta during the second quarter worth $50,000. CWM LLC increased its position in Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after acquiring an additional 8,040 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Embecta in the second quarter valued at $140,000. Finally, Cardinal Capital Management raised its stake in shares of Embecta by 16.8% in the second quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock valued at $147,000 after acquiring an additional 1,691 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Trading Up 3.1 %

NASDAQ:EMBC opened at $21.47 on Monday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 15.43 and a beta of 0.97. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.47. The stock has a fifty day simple moving average of $14.68 and a 200-day simple moving average of $14.21.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.79%. Embecta’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EMBC. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $13.00 to $20.00 in a report on Monday. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, November 27th.

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.