River Road Asset Management LLC lessened its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,247,389 shares of the company's stock after selling 229,883 shares during the period. River Road Asset Management LLC owned 5.59% of Embecta worth $67,059,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EMBC. Rubric Capital Management LP acquired a new position in Embecta in the 3rd quarter valued at about $15,306,000. Raymond James Financial Inc. acquired a new position in Embecta in the 4th quarter valued at about $6,598,000. Meros Investment Management LP acquired a new position in Embecta in the 3rd quarter valued at about $2,679,000. Jane Street Group LLC increased its position in Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company's stock valued at $2,488,000 after acquiring an additional 107,567 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in Embecta during the 3rd quarter worth approximately $1,485,000. Institutional investors and hedge funds own 93.83% of the company's stock.
Insider Transactions at Embecta
In related news, Director Milton Mayo Morris sold 3,100 shares of the company'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 sale, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company's stock.
Embecta Price Performance
NASDAQ EMBC traded up $0.15 on Friday, hitting $13.15. 675,667 shares of the company's stock were exchanged, compared to its average volume of 419,777. The firm's 50-day moving average price is $16.77 and its two-hundred day moving average price is $16.47. The firm has a market cap of $764.46 million, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.78 and a beta of 1.27. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $21.48.
Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS 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%. On average, research analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.
Embecta Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, February 28th. Embecta's dividend payout ratio (DPR) is 60.00%.
Analyst Upgrades and Downgrades
EMBC has been the topic of several recent analyst reports. Morgan Stanley upgraded 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 Embecta from a "neutral" rating to a "buy" rating and set a $26.00 target price on the stock in a research report on Wednesday, November 27th.
Check Out Our Latest Report on Embecta
About Embecta
(
Free Report)
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.
Further Reading
Before you consider Embecta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Embecta wasn't on the list.
While Embecta currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
