Raymond James Financial Inc. Makes New $6.60 Million Investment in Embecta Corp. (NASDAQ:EMBC)

Raymond James Financial Inc. bought a new stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 319,516 shares of the company's stock, valued at approximately $6,598,000. Raymond James Financial Inc. owned approximately 0.55% of Embecta at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC acquired a new position in shares of Embecta during the 3rd quarter valued at $438,000. Barclays PLC boosted its position in shares of Embecta by 41.1% during the 3rd quarter. Barclays PLC now owns 97,930 shares of the company's stock worth $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company's stock valued at $19,564,000 after buying an additional 45,228 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Embecta during the 4th quarter worth approximately $209,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 4,769 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors.

Insider Activity at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total transaction of $50,778.00. Following the transaction, the director now owns 36,133 shares of the company's stock, valued at $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Mizuho assumed coverage on shares of Embecta in a research note on Thursday, April 10th. They set a "neutral" rating and a $15.00 price target for the company.

Embecta Stock Up 1.1 %

EMBC stock traded up $0.13 during trading on Friday, reaching $11.88. The stock had a trading volume of 254,650 shares, compared to its average volume of 456,111. The company has a market capitalization of $690.63 million, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.78 and a beta of 1.23. Embecta Corp. has a one year low of $10.00 and a one year high of $21.48. The company's 50 day moving average is $12.70 and its two-hundred day moving average is $15.80.

Embecta (NASDAQ:EMBC - Get Free Report) last posted 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 negative return on equity of 19.22% and a net margin of 5.25%. As a group, research analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.05%. The ex-dividend date was Friday, February 28th. Embecta's dividend payout ratio is 60.00%.

Embecta 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.