Chicago Partners Investment Group LLC Makes New Investment in Embecta Corp. $EMBC

Chicago Partners Investment Group LLC bought a new stake in Embecta Corp. (NASDAQ:EMBC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 270,237 shares of the company’s stock, valued at approximately $1,813,000.

A number of other institutional investors also recently bought and sold shares of the company. Walleye Capital LLC bought a new position in shares of Embecta in the 1st quarter worth approximately $7,013,000. CWA Asset Management Group LLC boosted its holdings in shares of Embecta by 43.4% in the third quarter. CWA Asset Management Group LLC now owns 537,838 shares of the company’s stock worth $3,044,000 after buying an additional 162,891 shares during the last quarter. Krensavage Asset Management LLC boosted its holdings in shares of Embecta by 54.4% in the second quarter. Krensavage Asset Management LLC now owns 1,135,340 shares of the company’s stock worth $3,701,000 after buying an additional 400,000 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Embecta by 1,268.6% in the first quarter. Hsbc Holdings PLC now owns 212,491 shares of the company’s stock worth $1,882,000 after buying an additional 196,965 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Embecta by 299.7% during the first quarter. Renaissance Technologies LLC now owns 144,287 shares of the company’s stock valued at $1,275,000 after buying an additional 108,185 shares during the period. Institutional investors own 93.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of Embecta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. Zacks Research upgraded shares of Embecta from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $11.00.

Embecta Trading Down 2.2%

Shares of NASDAQ:EMBC opened at $6.19 on Friday. The stock has a 50 day moving average of $5.86 and a 200 day moving average of $6.31. The company has a market cap of $350.73 million, a PE ratio of 4.18 and a beta of 0.81. Embecta Corp. has a 12-month low of $2.77 and a 12-month high of $14.91.

Embecta (NASDAQ:EMBC) last released its earnings results on Friday, August 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.29. Embecta had a net margin of 8.59% and a negative return on equity of 19.25%. The company had revenue of $271.70 million during the quarter, compared to analyst estimates of $254.53 million. During the same period in the prior year, the firm posted $1.12 EPS. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts predict that Embecta Corp. will post 1.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Devdatt Kurdikar acquired 30,000 shares of Embecta stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $4.70 per share, with a total value of $141,000.00. Following the completion of the purchase, the chief executive officer directly owned 804,919 shares in the company, valued at approximately $3,783,119.30. This trade represents a 3.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Z. Mann acquired 20,000 shares of Embecta stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $4.99 per share, with a total value of $99,800.00. Following the completion of the purchase, the insider owned 262,915 shares of the company’s stock, valued at approximately $1,311,945.85. This represents a 8.23% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 70,000 shares of company stock worth $334,200 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Embecta Company Profile

Embecta Corp. (NASDAQ: EMBC) is a global diabetes-care company that develops, manufactures and sells products used to administer insulin and monitor blood glucose. Its portfolio includes pen needles, insulin syringes, safety needles and syringes, lancets, and other diabetes-management products designed for people with diabetes and the health care professionals who support them.

The company also offers digital and connected solutions intended to support diabetes management and improve the delivery of care.