American Century Companies Inc. Boosts Stake in Embecta Corp. (NASDAQ:EMBC)

American Century Companies Inc. grew its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,261,934 shares of the company's stock after buying an additional 242,668 shares during the quarter. American Century Companies Inc. owned 5.61% of Embecta worth $67,359,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EMBC. Smartleaf Asset Management LLC boosted its stake in shares of Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 774 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Embecta by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock worth $361,000 after purchasing an additional 923 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of Embecta by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after buying an additional 1,138 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Embecta by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company's stock valued at $2,048,000 after buying an additional 1,600 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Embecta by 5.7% during the third quarter. Natixis Advisors LLC now owns 30,735 shares of the company's stock valued at $433,000 after buying an additional 1,648 shares during the period. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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Embecta Stock Performance

NASDAQ EMBC traded down $0.15 during trading hours on Friday, hitting $12.28. 425,067 shares of the company's stock were exchanged, compared to its average volume of 440,337. The business's 50 day moving average is $15.26 and its 200-day moving average is $16.27. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48. The firm has a market capitalization of $713.89 million, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, equities research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.89%. Embecta's payout ratio is 60.00%.

Insider Buying and Selling

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the sale, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised shares of Embecta from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

About Embecta

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.