Envestnet Asset Management Inc. Purchases 1,597 Shares of Embecta Corp. (NASDAQ:EMBC)

Envestnet Asset Management Inc. increased its stake in Embecta Corp. (NASDAQ:EMBC) by 13.3% in the fourth quarter, Holdings Channel reports. The firm owned 13,639 shares of the company’s stock after purchasing an additional 1,597 shares during the period. Envestnet Asset Management Inc.’s holdings in Embecta were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of EMBC. William Blair Investment Management LLC purchased a new stake in shares of Embecta in the fourth quarter worth about $15,270,000. Raymond James Financial Inc. acquired a new position in shares of Embecta during the 4th quarter worth approximately $6,598,000. American Century Companies Inc. increased its holdings in shares of Embecta by 8.0% during the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company’s stock worth $67,359,000 after buying an additional 242,668 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Embecta in the 4th quarter worth approximately $4,043,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Embecta by 121.1% in the fourth quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company’s stock valued at $6,631,000 after purchasing an additional 175,857 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Mizuho started coverage on Embecta in a research note on Thursday, April 10th. They set a “neutral” rating and a $15.00 target price for the company.

Embecta Stock Down 2.0 %

NASDAQ EMBC opened at $12.21 on Wednesday. The firm has a market cap of $709.82 million, a P/E ratio of 12.21, a P/E/G ratio of 0.78 and a beta of 1.24. The business’s 50-day moving average price is $12.50 and its 200 day moving average price is $15.81. Embecta Corp. has a 52-week low of $10.27 and a 52-week high of $21.48.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share 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 anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The company 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 4.91%. The ex-dividend date was Friday, February 28th. Embecta’s dividend payout ratio is currently 60.00%.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 36,133 shares in the company, valued at $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

About Embecta

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.