Walleye Capital LLC Makes New Investment in Embecta Corp. (NASDAQ:EMBC)

Walleye Capital LLC acquired a new stake in Embecta Corp. (NASDAQ:EMBC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 167,498 shares of the company's stock, valued at approximately $3,459,000. Walleye Capital LLC owned about 0.29% of Embecta as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its position in shares of Embecta by 175.1% during the 4th 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. Sterling Capital Management LLC lifted its holdings in shares of Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after acquiring an additional 1,497 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Embecta in the 4th quarter valued at approximately $209,000. KLP Kapitalforvaltning AS acquired a new position in Embecta during the fourth quarter worth $215,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Embecta during the third quarter worth $217,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Up 1.5 %

EMBC stock traded up $0.17 during midday trading on Wednesday, hitting $11.39. The company's stock had a trading volume of 72,671 shares, compared to its average volume of 453,985. Embecta Corp. has a 52-week low of $10.00 and a 52-week high of $21.48. The firm has a 50-day simple moving average of $12.91 and a 200-day simple moving average of $15.86. The firm has a market capitalization of $662.15 million, a P/E ratio of 11.39, a PEG ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results 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%. On average, sell-side analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Friday, February 28th. Embecta's dividend payout ratio (DPR) is 60.00%.

Insider Transactions 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 shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the transaction, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company's stock.

Analyst Ratings Changes

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

About Embecta

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.