Wealthfront Advisers LLC Makes New Investment in Embecta Corp. (NASDAQ:EMBC)

Wealthfront Advisers LLC bought a new position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,592 shares of the company's stock, valued at approximately $446,000.

Several other large investors have also added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in Embecta by 5.7% during the third quarter. Natixis Advisors LLC now owns 30,735 shares of the company's stock worth $433,000 after acquiring an additional 1,648 shares in the last quarter. Quest Partners LLC bought a new stake in Embecta during the third quarter worth $239,000. Segall Bryant & Hamill LLC bought a new stake in Embecta during the third quarter worth $1,485,000. Jennison Associates LLC bought a new stake in Embecta during the third quarter worth $594,000. Finally, Intech Investment Management LLC bought a new stake in Embecta during the third quarter worth $211,000. Institutional investors and hedge funds own 93.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley raised shares of Embecta from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd. BTIG Research raised shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a research report on Wednesday, November 27th.

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Embecta Stock Down 2.9 %

Shares of EMBC traded down $0.40 during trading hours on Thursday, hitting $13.23. The company had a trading volume of 522,030 shares, compared to its average volume of 418,944. The firm has a market cap of $769.11 million, a price-to-earnings ratio of 13.23, a PEG ratio of 0.78 and a beta of 1.27. The business has a fifty day moving average of $16.22 and a 200-day moving average of $16.42. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. On average, equities analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.15 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.54%. Embecta's dividend payout ratio (DPR) is presently 60.00%.

Insider Activity at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the company'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 directly owns 36,133 shares in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by corporate insiders.

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.