Krensavage Asset Management LLC Has $3.70 Million Position in Embecta Corp. $EMBC

Krensavage Asset Management LLC lifted its stake in Embecta Corp. (NASDAQ:EMBC) by 54.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,135,340 shares of the company’s stock after buying an additional 400,000 shares during the period. Embecta comprises 1.4% of Krensavage Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Krensavage Asset Management LLC’s holdings in Embecta were worth $3,701,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its position in shares of Embecta by 24.9% in the 2nd quarter. Engineers Gate Manager LP now owns 98,935 shares of the company’s stock worth $323,000 after acquiring an additional 19,728 shares during the period. Squarepoint Ops LLC raised its stake in shares of Embecta by 77.1% in the second quarter. Squarepoint Ops LLC now owns 131,214 shares of the company’s stock valued at $428,000 after purchasing an additional 57,116 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of Embecta in the second quarter valued at $240,000. California State Teachers Retirement System lifted its position in Embecta by 285.6% in the second quarter. California State Teachers Retirement System now owns 194,514 shares of the company’s stock worth $634,000 after purchasing an additional 144,073 shares during the period. Finally, AXQ Capital LP lifted its position in Embecta by 215.6% in the second quarter. AXQ Capital LP now owns 61,763 shares of the company’s stock worth $201,000 after purchasing an additional 42,191 shares during the period. 93.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EMBC shares. Weiss Ratings lowered shares of Embecta from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 3rd. Bank of America reduced their price objective on shares of Embecta from $11.00 to $3.00 and set an “underperform” rating for the company in a report on Monday, May 18th. Finally, Zacks Research upgraded shares of Embecta from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Embecta currently has a consensus rating of “Reduce” and an average target price of $11.00.

Embecta Trading Down 7.7%

Shares of EMBC opened at $5.12 on Thursday. The stock has a market cap of $290.10 million, a PE ratio of 3.46 and a beta of 0.86. Embecta Corp. has a 1 year low of $2.77 and a 1 year high of $15.55. The stock has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $5.73.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.27 by $0.29. Embecta had a negative return on equity of 19.25% and a net margin of 8.59%.The business had revenue of $271.70 million for the quarter, compared to analyst estimates of $254.53 million. During the same quarter in the previous year, the firm earned $1.12 EPS. Embecta’s quarterly revenue was down 8.1% on a year-over-year basis. Embecta has set its FY 2026 guidance at 1.800-1.900 EPS. On average, sell-side analysts forecast that Embecta Corp. will post 1.84 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, August 27th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 27th. Embecta’s payout ratio is currently 2.70%.

Insider Activity

In other news, Director Milton Mayo Morris sold 6,293 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $5.88, for a total value of $37,002.84. Following the sale, the director owned 53,828 shares of the company’s stock, valued at approximately $316,508.64. This represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Devdatt Kurdikar bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $4.70 per share, with a total value of $141,000.00. Following the transaction, the chief executive officer directly owned 804,919 shares in the company, valued at $3,783,119.30. This represents a 3.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 70,000 shares of company stock worth $334,200 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Embecta Profile

Embecta Corp (NASDAQ: EMBC) is a pure-play diabetes care company that was spun off from Becton, Dickinson and Company on July 1, 2021. Headquartered in Franklin Lakes, New Jersey, Embecta focuses exclusively on the development, manufacturing and commercialization of products that enable insulin delivery and blood glucose monitoring for people with diabetes.

The company’s product portfolio includes insulin infusion sets, durable and patch pumps, pen needles, infusion tubing, blood glucose test strips, lancets and lancing devices.