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

Intech Investment Management LLC raised its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 415.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,016 shares of the company’s stock after buying an additional 62,086 shares during the period. Intech Investment Management LLC’s holdings in Embecta were worth $1,590,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. William Blair Investment Management LLC purchased a new position in shares of Embecta during the fourth quarter valued at approximately $15,270,000. Natixis Advisors LLC boosted its position in shares of Embecta by 8.2% during the fourth quarter. Natixis Advisors LLC now owns 33,268 shares of the company’s stock valued at $687,000 after buying an additional 2,533 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of Embecta during the fourth quarter valued at approximately $1,018,000. Wealthfront Advisers LLC purchased a new position in shares of Embecta during the fourth quarter valued at approximately $446,000. Finally, Inspire Advisors LLC boosted its holdings in shares of Embecta by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 32,307 shares of the company’s stock valued at $667,000 after purchasing an additional 1,138 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $12.82 on Friday. The firm has a market capitalization of $745.28 million, a price-to-earnings ratio of 12.82, a PEG ratio of 0.78 and a beta of 1.27. The stock has a 50 day moving average price of $15.94 and a 200 day moving average price of $16.37. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48.

Embecta (NASDAQ:EMBC) last posted 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 negative return on equity of 19.22% and a net margin of 5.25%. Analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend 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 currently 60.00%.

Insiders Place Their Bets

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction 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 completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

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.