Intech Investment Management LLC Grows Holdings in Embecta Corp. (NASDAQ:EMBC)

Intech Investment Management LLC raised its position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 415.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,016 shares of the company's stock after purchasing an additional 62,086 shares during the quarter. Intech Investment Management LLC owned 0.13% of Embecta worth $1,590,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Garden State Investment Advisory Services LLC bought a new stake in shares of Embecta during the third quarter valued at approximately $438,000. Barclays PLC boosted its stake in Embecta by 41.1% during the 3rd quarter. Barclays PLC now owns 97,930 shares of the company's stock valued at $1,381,000 after purchasing an additional 28,523 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Embecta in the 3rd quarter worth $594,000. Jane Street Group LLC raised its stake in shares of Embecta by 156.1% in the third 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 during the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $19,564,000 after purchasing an additional 45,228 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley raised Embecta from an "underweight" rating to an "equal weight" rating and boosted their target price 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 target for the company in a research note on Wednesday, November 27th.

Remove Ads

Embecta Stock Performance

Shares of EMBC stock traded down $0.13 on Wednesday, reaching $12.52. The stock had a trading volume of 345,297 shares, compared to its average volume of 422,866. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The stock has a market cap of $727.84 million, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The company has a 50 day simple moving average of $15.65 and a 200 day simple moving average of $16.34.

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, beating analysts' consensus estimates of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. On average, equities research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 yield of 4.79%. Embecta's dividend payout ratio (DPR) is 60.00%.

Insider Buying and Selling at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the business's stock in a transaction on Thursday, February 13th. The shares were 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 owns 36,133 shares of the company's stock, valued at $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

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.