Embecta Corp. (NASDAQ:EMBC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its position in Embecta Corp. (NASDAQ:EMBC) by 13.6% during the fourth quarter, Holdings Channel reports. The firm owned 100,456 shares of the company’s stock after selling 15,768 shares during the period. Alliancebernstein L.P.’s holdings in Embecta were worth $2,074,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of EMBC. Jane Street Group LLC increased its holdings 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 during the period. Barclays PLC increased its stake in shares of Embecta by 41.1% in the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after acquiring an additional 28,523 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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. Wilmington Savings Fund Society FSB acquired a new position in Embecta during the third quarter valued at $217,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in Embecta in the third quarter valued at $438,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Milton Mayo Morris sold 3,100 shares of the business’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Embecta Price Performance

Shares of NASDAQ EMBC opened at $11.34 on Thursday. The stock has a market capitalization of $659.24 million, a price-to-earnings ratio of 11.34, a PEG ratio of 0.78 and a beta of 1.23. The firm’s 50 day simple moving average is $13.37 and its 200-day simple moving average is $15.92. Embecta Corp. has a 12 month low of $10.00 and a 12 month high of $21.48.

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

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.15 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.29%. 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.