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

Raymond James Financial Inc. bought a new stake in Embecta Corp. (NASDAQ:EMBC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 319,516 shares of the company's stock, valued at approximately $6,598,000. Raymond James Financial Inc. owned 0.55% of Embecta as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EMBC. Rubric Capital Management LP bought a new position in Embecta during the 3rd quarter worth $15,306,000. Meros Investment Management LP acquired a new stake in shares of Embecta in the 3rd quarter worth about $2,679,000. Jane Street Group LLC increased its holdings in shares of Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company's stock worth $2,488,000 after acquiring an additional 107,567 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Embecta in the 3rd quarter valued at about $1,485,000. Finally, Geode Capital Management LLC boosted its stake in Embecta by 3.4% during the 3rd 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 during the period. 93.83% of the stock is owned by institutional investors.

Embecta Stock Down 0.7 %

Shares of Embecta stock traded down $0.09 during trading on Thursday, hitting $12.43. The stock had a trading volume of 334,994 shares, compared to its average volume of 423,022. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The stock has a 50 day simple moving average of $15.52 and a 200 day simple moving average of $16.31. The company has a market capitalization of $722.61 million, a PE ratio of 12.43, a P/E/G ratio of 0.78 and a beta of 1.27.

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Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping 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%. As a group, equities analysts expect 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 paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.83%. Embecta's dividend payout ratio is presently 60.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BTIG Research raised 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. Morgan Stanley upgraded shares of Embecta from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

Insiders Place Their Bets

In related 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 completion of the sale, the director now owns 36,133 shares of the company's stock, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.42% of the company's 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.