Embecta (NASDAQ:EMBC) Stock Price Down 4.2% – Here’s Why

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

Embecta Stock Down 7.8 %

The company’s fifty day moving average is $14.55 and its 200 day moving average is $13.91. The stock has a market cap of $767.41 million, a PE ratio of 10.98 and a beta of 0.97.

Institutional Trading of Embecta

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Embecta during the third quarter valued at about $30,000. Copeland Capital Management LLC acquired a new stake in shares of Embecta during the third quarter worth about $43,000. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta in the second quarter valued at $50,000. CWM LLC raised 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 purchasing an additional 8,040 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Embecta during the 2nd quarter worth approximately $140,000. 93.83% of the stock is currently owned by institutional investors.

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.