Yacktman Asset Management LP Trims Stake in Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP trimmed its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,383,032 shares of the company’s stock after selling 142,735 shares during the quarter. Yacktman Asset Management LP owned approximately 4.10% of Embecta worth $49,210,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EMBC. Quarry LP acquired a new position in shares of Embecta during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC purchased a new position in Embecta in the third quarter valued at $43,000. CWM LLC grew its holdings in Embecta by 11.3% during the 3rd quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after acquiring an additional 1,023 shares in the last quarter. SG Americas Securities LLC acquired a new position in Embecta in the third quarter valued at approximately $207,000. Finally, Intech Investment Management LLC purchased a new position in shares of Embecta during the third quarter worth about $211,000. 93.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EMBC. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd.

Embecta Stock Performance

NASDAQ EMBC opened at $17.50 on Tuesday. The firm has a market capitalization of $1.02 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48. The company has a 50-day simple moving average of $19.58 and a 200-day simple moving average of $16.55.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS 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%. Equities analysts forecast that Embecta Corp. will post 2.87 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, February 28th. Embecta’s payout ratio is currently 60.00%.

Embecta 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.