William Blair Investment Management LLC Makes New Investment in Embecta Corp. (NASDAQ:EMBC)

William Blair Investment Management LLC bought a new position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 739,461 shares of the company's stock, valued at approximately $15,270,000. William Blair Investment Management LLC owned 1.27% of Embecta at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in shares of Embecta by 5.7% in the third quarter. Natixis Advisors LLC now owns 30,735 shares of the company's stock valued at $433,000 after acquiring an additional 1,648 shares in the last quarter. Quest Partners LLC bought a new stake in Embecta during the 3rd quarter valued at approximately $239,000. Segall Bryant & Hamill LLC purchased a new position in Embecta in the 3rd quarter worth approximately $1,485,000. Jennison Associates LLC purchased a new position in Embecta in the 3rd quarter worth approximately $594,000. Finally, Intech Investment Management LLC bought a new position in Embecta in the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

Embecta Stock Up 0.3 %

NASDAQ EMBC traded up $0.04 during trading on Monday, hitting $12.86. 575,474 shares of the stock traded hands, compared to its average volume of 422,566. The company has a market capitalization of $747.60 million, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48. The firm has a 50-day simple moving average of $15.94 and a 200-day simple moving average of $16.37.

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Embecta (NASDAQ:EMBC - Get Free Report) last announced 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 net margin of 5.25% and a negative return on equity of 19.22%. As a group, research analysts predict 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Friday, February 28th. Embecta's payout ratio is 60.00%.

Analyst Ratings Changes

EMBC has been the topic of several research analyst reports. Morgan Stanley raised shares of 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 report on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Wednesday, November 27th.

Insider Buying and Selling

In related news, Director Milton Mayo Morris sold 3,100 shares of the 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company 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.