Price T Rowe Associates Inc. MD Has $1.23 Million Holdings in Embecta Corp. (NASDAQ:EMBC)

Price T Rowe Associates Inc. MD raised its stake in Embecta Corp. (NASDAQ:EMBC) by 6.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 59,537 shares of the company’s stock after buying an additional 3,792 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Embecta were worth $1,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC acquired a new position in Embecta in the fourth quarter valued at about $15,270,000. Raymond James Financial Inc. bought a new position in shares of Embecta during the 4th quarter valued at about $6,598,000. American Century Companies Inc. increased its stake in 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 purchasing an additional 242,668 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in Embecta during the 4th quarter worth approximately $4,043,000. Finally, JPMorgan Chase & Co. raised its holdings in Embecta by 121.1% during the 4th quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company’s stock worth $6,631,000 after buying an additional 175,857 shares during the period. Institutional investors own 93.83% of the company’s stock.

Insider Activity at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction on Thursday, February 13th. The shares were 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 owns 36,133 shares in the company, valued at $591,858.54. This trade represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Embecta Stock Performance

Shares of Embecta stock opened at $12.00 on Friday. Embecta Corp. has a 52-week low of $10.83 and a 52-week high of $21.48. The business’s 50 day simple moving average is $12.46 and its 200 day simple moving average is $15.75. The firm has a market cap of $697.61 million, a PE ratio of 12.00, a P/E/G ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The business had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, equities research analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.00%. Embecta’s payout ratio is 60.00%.

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.