Intech Investment Management LLC Grows Position in Embecta Corp. (NASDAQ:EMBC)

Intech Investment Management LLC boosted its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 415.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,016 shares of the company’s stock after purchasing an additional 62,086 shares during the period. Intech Investment Management LLC owned about 0.13% of Embecta worth $1,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EMBC. Natixis Advisors LLC lifted its position in Embecta by 5.7% during the third quarter. Natixis Advisors LLC now owns 30,735 shares of the company’s stock valued at $433,000 after purchasing an additional 1,648 shares in the last quarter. Quest Partners LLC purchased a new position in Embecta during the third quarter valued at $239,000. Segall Bryant & Hamill LLC bought a new stake in Embecta during the third quarter valued at about $1,485,000. Jennison Associates LLC bought a new stake in Embecta during the third quarter valued at about $594,000. Finally, Rubric Capital Management LP bought a new stake in Embecta during the third quarter valued at about $15,306,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Down 3.1 %

NASDAQ:EMBC opened at $12.82 on Friday. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $21.48. The business’s 50-day simple moving average is $15.94 and its two-hundred day simple moving average is $16.37. The stock has a market cap of $745.28 million, a PE ratio of 12.82, a P/E/G ratio of 0.78 and a beta of 1.27.

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

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.15 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.68%. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insider Transactions at Embecta

In other Embecta 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 transaction of $50,778.00. Following the sale, the director now directly owns 36,133 shares of the company’s stock, valued at $591,858.54. The trade was 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. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

EMBC has been the topic of a number of recent analyst reports. BTIG Research raised 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 Embecta from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

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.