JPMorgan Chase & Co. Buys 175,857 Shares of Embecta Corp. (NASDAQ:EMBC)

JPMorgan Chase & Co. raised its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 121.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,126 shares of the company's stock after acquiring an additional 175,857 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.55% of Embecta worth $6,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after purchasing an additional 774 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Embecta by 5.6% in the fourth 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 stake in shares of Embecta by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after purchasing an additional 1,138 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Embecta by 8.2% in the fourth quarter. Natixis Advisors LLC now owns 33,268 shares of the company's stock worth $687,000 after purchasing an additional 2,533 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Embecta by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after purchasing an additional 4,769 shares during the last quarter. Institutional investors own 93.83% of the company's stock.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now owns 36,133 shares of the company's stock, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company's stock.

Embecta Stock Up 4.2 %

EMBC traded up $0.47 during trading on Wednesday, reaching $11.69. 18,169 shares of the stock traded hands, compared to its average volume of 453,770. The stock has a market capitalization of $679.59 million, a PE ratio of 11.69, a P/E/G ratio of 0.78 and a beta of 1.23. The stock's 50-day moving average is $12.91 and its 200 day moving average is $15.86. Embecta Corp. has a 12 month low of $10.00 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The business 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 was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.13%. Embecta's dividend payout ratio is currently 60.00%.

Wall Street Analyst Weigh In

Separately, Mizuho began coverage on shares of Embecta in a research report on Thursday, April 10th. They set a "neutral" rating and a $15.00 price target on the stock.

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.