Wealthfront Advisers LLC Purchases New Holdings in Embecta Corp. (NASDAQ:EMBC)

Wealthfront Advisers LLC purchased a new stake in Embecta Corp. (NASDAQ:EMBC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,592 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Advisors LLC increased its position in Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company’s stock valued at $667,000 after acquiring an additional 1,138 shares during the period. Amundi increased its position in Embecta by 161.2% in the 4th quarter. Amundi now owns 32,287 shares of the company’s stock valued at $655,000 after acquiring an additional 19,925 shares during the period. Raymond James Financial Inc. acquired a new position in Embecta in the 4th quarter valued at about $6,598,000. Victory Capital Management Inc. boosted its holdings in Embecta by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after purchasing an additional 923 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Insider Transactions at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Embecta Price Performance

Shares of NASDAQ:EMBC opened at $13.15 on Monday. The business’s 50 day simple moving average is $16.62 and its 200-day simple moving average is $16.48. The firm has a market capitalization of $764.46 million, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate 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 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. Stockholders of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Friday, February 28th. Embecta’s dividend payout ratio (DPR) is 60.00%.

Analysts Set New Price Targets

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

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.