Milton Mayo Morris Sells 3,100 Shares of Embecta Corp. (NASDAQ:EMBC) Stock

Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 36,133 shares in the company, valued at $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Embecta Price Performance

NASDAQ EMBC opened at $14.85 on Friday. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The company has a market capitalization of $863.23 million, a PE ratio of 14.85, a P/E/G ratio of 0.95 and a beta of 1.20. The company has a fifty day moving average of $19.22 and a 200 day moving average of $16.57.

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 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%. Research analysts expect that Embecta Corp. will post 2.87 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, February 28th. Embecta’s dividend payout ratio (DPR) is 60.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EMBC. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

Hedge Funds Weigh In On Embecta

Several large investors have recently made changes to their positions in EMBC. Smartleaf Asset Management LLC increased its holdings in Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after buying an additional 774 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock valued at $35,000 after acquiring an additional 1,497 shares during the period. Quarry LP purchased a new position in shares of Embecta in the 3rd quarter valued at about $30,000. Copeland Capital Management LLC acquired a new position in Embecta in the 3rd quarter worth about $43,000. Finally, Tower Research Capital LLC TRC boosted its position in Embecta by 111.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company’s stock worth $150,000 after purchasing an additional 3,835 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.