Connor Clark & Lunn Investment Management Ltd. Has $3.33 Million Position in Embecta Corp. (NASDAQ:EMBC)

Connor Clark & Lunn Investment Management Ltd. cut its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 20.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,044 shares of the company's stock after selling 42,006 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of Embecta worth $3,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EMBC. Rubric Capital Management LP acquired a new position in shares of Embecta in the 3rd quarter valued at approximately $15,306,000. Raymond James Financial Inc. acquired a new position in Embecta during the 4th quarter worth approximately $6,598,000. Meros Investment Management LP acquired a new position in Embecta during the 3rd quarter worth approximately $2,679,000. Jane Street Group LLC increased its position in Embecta by 156.1% during the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company's stock worth $2,488,000 after purchasing an additional 107,567 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Embecta during the 3rd quarter worth approximately $1,485,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Trading Down 3.1 %

EMBC traded down $0.41 during trading on Friday, reaching $12.82. 1,305,567 shares of the company's stock were exchanged, compared to its average volume of 422,420. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48. The stock has a market capitalization of $745.28 million, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The firm has a fifty day moving average price of $16.08 and a two-hundred day moving average price of $16.40.

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Embecta (NASDAQ:EMBC - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Sell-side analysts expect that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Friday, February 28th. Embecta's dividend payout ratio is currently 60.00%.

Insider Activity

In other news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now directly owns 36,133 shares of the company's stock, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.42% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EMBC. Morgan Stanley upgraded shares of Embecta from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd. 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.

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.