Charles Schwab Investment Management Inc. cut its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 782,190 shares of the company's stock after selling 180,834 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.35% of Embecta worth $16,152,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rubric Capital Management LP acquired a new position in shares of Embecta during the 3rd quarter worth about $15,306,000. Meros Investment Management LP acquired a new position in Embecta during the third quarter valued at approximately $2,679,000. Jane Street Group LLC increased its stake in Embecta by 156.1% in the third quarter. Jane Street Group LLC now owns 176,487 shares of the company's stock valued at $2,488,000 after purchasing an additional 107,567 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Embecta in the third quarter valued at approximately $1,485,000. Finally, Geode Capital Management LLC boosted its position in shares of Embecta by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company's stock worth $19,564,000 after purchasing an additional 45,228 shares in the last quarter. Institutional investors own 93.83% of the company's stock.
Embecta Price Performance
EMBC traded up $0.04 during trading on Monday, reaching $12.86. The company had a trading volume of 575,474 shares, compared to its average volume of 422,566. The company has a market cap of $747.60 million, a P/E ratio of 12.86, a PEG ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $21.48. The business's fifty day moving average price is $15.94 and its 200 day moving average price is $16.37.
Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating 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, sell-side analysts predict 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 given a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.67%. Embecta's dividend payout ratio is currently 60.00%.
Insider Buying and Selling
In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
EMBC has been the subject of a number of recent analyst reports. BTIG Research upgraded shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 price objective for the company in a research report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $13.00 to $20.00 in a report on Monday, December 2nd.
Get Our Latest Stock Report on Embecta
Embecta Company Profile
(
Free Report)
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.
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