Wed Sep 25 07:51:21 UTC 2024: ## Victory Capital Cuts Embecta Stake, Other Investors Make Moves

**New York, NY -** Victory Capital Management Inc. significantly reduced its holdings in Embecta Corp. (NASDAQ: EMBC) during the second quarter, selling off 73.7% of its shares, according to the company’s latest Form 13F filing. The move comes as several other institutional investors have been adjusting their positions in the medical device company.

Victory Capital now holds 15,917 shares of Embecta, valued at $199,000, after selling off 44,523 shares. This suggests a possible shift in sentiment towards the company, though specific reasons for the reduction remain unclear.

While Victory Capital trimmed its stake, other investors have been increasing their holdings. Notably, LSV Asset Management boosted its stake in Embecta by 205.6% during the first quarter, now owning 110,700 shares valued at $1,469,000. Similarly, Allianz Asset Management GmbH increased its holdings by 77.0% in the fourth quarter, now owning 141,124 shares worth $2,671,000.

Sei Investments Co. and Public Employees Retirement System of Ohio also made significant purchases of Embecta shares during the first quarter, increasing their holdings by 15.9% and 1,135.6%, respectively. Meanwhile, Vanguard Group Inc. increased its stake by 2.7% in the first quarter, bringing its total holdings to 7,213,992 shares worth $95,730,000.

Embecta, a medical device company specializing in diabetes care solutions, currently has a market capitalization of $869.09 million. The company’s stock opened at $15.07 on Wednesday. Embecta recently declared a quarterly dividend of $0.15, representing an annualized dividend of $0.60 and a yield of 3.98%.

However, not all analysts are bullish on Embecta’s future. Morgan Stanley downgraded its price objective on the company’s shares from $13.00 to $12.00 and assigned an “underweight” rating in a research report on July 15th.

Overall, the recent activity from institutional investors indicates a mixed outlook on Embecta’s future. While some investors are increasing their positions, others are reducing their holdings, suggesting that the company may be facing some uncertainty. Future market performance will likely depend on Embecta’s ability to navigate these challenges and demonstrate continued growth in the diabetes care market.

Read More