Embecta (NASDAQ:EMBC) Shares Down 4.2% – Here’s What Happened

Embecta Corp. (NASDAQ:EMBC)’s share price fell 4.2% on Tuesday . The company traded as low as $13.82 and last traded at $13.82. 62,754 shares were traded during mid-day trading, a decline of 84% from the average session volume of 399,680 shares. The stock had previously closed at $14.42.

Embecta Stock Performance

The company has a market capitalization of $767.41 million, a P/E ratio of 10.98 and a beta of 0.97. The business has a 50 day moving average of $14.55 and a 200-day moving average of $13.91.

Hedge Funds Weigh In On Embecta

Several institutional investors and hedge funds have recently added to or reduced their stakes in EMBC. Quarry LP bought a new stake in shares of Embecta during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC purchased a new position in Embecta in the 3rd quarter worth approximately $43,000. Iat Reinsurance Co. LTD. bought a new stake in Embecta in the 2nd quarter worth approximately $50,000. CWM LLC increased its stake in Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Embecta during the 2nd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.