Royce & Associates LP Decreases Stake in Embecta Corp. (NASDAQ:EMBC)

Royce & Associates LP lowered its position in shares of Embecta Corp. (NASDAQ:EMBC) by 22.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,778 shares of the company’s stock after selling 15,409 shares during the quarter. Royce & Associates LP’s holdings in Embecta were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after acquiring an additional 774 shares during the period. Victory Capital Management Inc. increased its position in shares of Embecta by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after purchasing an additional 923 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of Embecta by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company’s stock worth $667,000 after purchasing an additional 1,138 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Embecta by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company’s stock worth $2,048,000 after buying an additional 1,600 shares during the last quarter. Finally, Natixis Advisors LLC grew 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 buying an additional 1,648 shares during the period. 93.83% of the stock is owned by institutional investors.

Embecta Price Performance

Shares of NASDAQ EMBC opened at $12.82 on Friday. The business’s fifty day moving average price is $15.94 and its 200-day moving average price is $16.37. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48. The stock has a market capitalization 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 for the quarter, topping 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%. As a group, equities analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.68%. Embecta’s dividend payout ratio is 60.00%.

Analyst Ratings Changes

Several brokerages have commented on EMBC. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $13.00 to $20.00 in a report on Monday, December 2nd.

Insider Buying and Selling at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction 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 transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

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.