AlphaQuest LLC Cuts Stock Position in Embecta Corp. (NASDAQ:EMBC)

AlphaQuest LLC decreased its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 78.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,707 shares of the company’s stock after selling 13,218 shares during the quarter. AlphaQuest LLC’s holdings in Embecta were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings 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 valued at $25,000 after acquiring an additional 774 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Embecta by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after acquiring an additional 923 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Embecta by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company’s stock valued at $2,048,000 after acquiring an additional 1,600 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Embecta by 5.7% during the 3rd 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. Finally, Quarry LP acquired a new position in shares of Embecta during the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EMBC. BTIG Research upgraded 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 raised their price target for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Trading Up 1.1 %

EMBC opened at $13.63 on Thursday. The company has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $16.42. The firm has a market cap of $792.37 million, a price-to-earnings ratio of 13.63, a PEG ratio of 0.78 and a beta of 1.27. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (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%. On average, analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The business 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. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.40%. Embecta’s dividend payout ratio 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 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 sale, the director now directly owns 36,133 shares of the company’s stock, valued at $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.