Commonwealth Equity Services LLC Takes $1.02 Million Position in Embecta Corp. (NASDAQ:EMBC)

Commonwealth Equity Services LLC purchased a new position in shares of Embecta Corp. (NASDAQ:EMBC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 49,322 shares of the company’s stock, valued at approximately $1,018,000.

A number of other hedge funds have also added to or reduced their stakes in EMBC. Geode Capital Management LLC lifted its stake in Embecta by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after purchasing an additional 45,228 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Embecta by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock worth $14,155,000 after buying an additional 4,769 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Embecta in the fourth quarter valued at about $6,598,000. Principal Financial Group Inc. grew its position in Embecta by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 280,004 shares of the company’s stock valued at $5,782,000 after acquiring an additional 7,887 shares during the last quarter. Finally, Meros Investment Management LP acquired a new position in Embecta during the third quarter worth about $2,679,000. 93.83% of the stock is owned by institutional investors.

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 value of $50,778.00. Following the completion of the sale, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Morgan Stanley upgraded 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 research note on Monday, December 2nd.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $12.75 on Tuesday. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48. The company has a market capitalization of $741.21 million, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The company has a fifty day moving average of $15.14 and a 200-day moving average of $16.25.

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

Embecta Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.71%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

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.