Clark Estates Inc. NY Decreases Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Clark Estates Inc. NY lowered its holdings in Embecta Corp. (NASDAQ:EMBC) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,384 shares of the company’s stock after selling 17,616 shares during the period. Clark Estates Inc. NY’s holdings in Embecta were worth $3,002,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Embecta by 3.4% during the 3rd 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 period. Rubric Capital Management LP purchased a new position in Embecta in the third quarter valued at about $15,306,000. Bank of New York Mellon Corp grew its position in shares of Embecta by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock valued at $14,155,000 after acquiring an additional 4,769 shares during the period. Principal Financial Group Inc. grew its position in shares of Embecta by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 280,004 shares of the company’s stock valued at $5,782,000 after acquiring an additional 7,887 shares during the period. Finally, Meros Investment Management LP purchased a new stake in shares of Embecta during the 3rd quarter worth approximately $2,679,000. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Down 2.1 %

NASDAQ EMBC opened at $12.60 on Wednesday. The firm has a market cap of $732.49 million, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.78 and a beta of 1.20. The company’s 50 day moving average is $17.93 and its 200-day moving average is $16.53. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Equities analysts expect 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, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 4.76%. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insiders Place Their Bets

In other news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction dated 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 in the company, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EMBC has been the subject of several research reports. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

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.