Yacktman Asset Management LP Reduces Stock Position in Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP cut its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,383,032 shares of the company's stock after selling 142,735 shares during the quarter. Yacktman Asset Management LP owned about 4.10% of Embecta worth $49,210,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new position in Embecta during the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC purchased a new position in shares of Embecta during the third quarter worth $43,000. CWM LLC raised its holdings in shares of Embecta by 11.3% during the third quarter. CWM LLC now owns 10,102 shares of the company's stock worth $142,000 after purchasing an additional 1,023 shares during the last quarter. SG Americas Securities LLC acquired a new position in Embecta during the third quarter valued at $207,000. Finally, Intech Investment Management LLC purchased a new stake in Embecta in the third quarter valued at $211,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Trading Down 8.8 %

EMBC traded down $1.43 on Friday, reaching $14.72. The stock had a trading volume of 282,539 shares, compared to its average volume of 403,832. The business's 50-day moving average price is $19.38 and its two-hundred day moving average price is $16.57. The company has a market cap of $855.85 million, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20. 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 announced its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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, analysts predict that Embecta Corp. will post 2.87 earnings per share for the current 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Friday, February 28th. Embecta's dividend payout ratio is presently 60.00%.

Wall Street Analyst Weigh In

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

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.