Embecta Corp. (NASDAQ:EMBC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,917 shares of the company’s stock after selling 4,068 shares during the quarter. Rhumbline Advisers’ holdings in Embecta were worth $3,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EMBC. Garden State Investment Advisory Services LLC bought a new position in shares of Embecta in the third quarter valued at approximately $438,000. Barclays PLC lifted its position in shares of Embecta by 41.1% in the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock valued at $1,381,000 after acquiring an additional 28,523 shares in the last quarter. Jennison Associates LLC purchased a new stake in Embecta in the 3rd quarter worth approximately $594,000. Jane Street Group LLC lifted its position in Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after buying an additional 107,567 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after buying an additional 45,228 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Insider Transactions at Embecta

In other Embecta 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 transaction of $50,778.00. Following the sale, the director now directly owns 36,133 shares of the company’s stock, valued at approximately $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 available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

EMBC has been the topic of a number of recent research reports. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target 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 objective for the stock from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Price Performance

Shares of NASDAQ:EMBC opened at $13.50 on Friday. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48. The company has a 50 day moving average of $18.22 and a 200-day moving average of $16.53. The stock has a market cap of $784.81 million, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data 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 net margin of 5.25% and a negative return on equity of 19.22%. Equities research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, February 28th. Embecta’s dividend payout ratio is presently 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.