Martingale Asset Management L P Sells 4,255 Shares of Embecta Corp. (NASDAQ:EMBC)

Martingale Asset Management L P lowered its position in Embecta Corp. (NASDAQ:EMBC) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,764 shares of the company’s stock after selling 4,255 shares during the period. Martingale Asset Management L P’s holdings in Embecta were worth $449,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in Embecta by 52.7% during the 4th quarter. Renaissance Technologies LLC now owns 68,848 shares of the company’s stock worth $1,422,000 after purchasing an additional 23,748 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Embecta by 151.9% during the fourth quarter. Russell Investments Group Ltd. now owns 54,371 shares of the company’s stock worth $1,123,000 after acquiring an additional 32,787 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Embecta by 13.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company’s stock worth $282,000 after acquiring an additional 1,597 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Embecta by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 53,241 shares of the company’s stock worth $1,099,000 after acquiring an additional 9,164 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new stake in Embecta in the 4th quarter valued at $4,043,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Mizuho began coverage on Embecta in a research note on Thursday. They issued a “neutral” rating and a $15.00 price target on the stock.

Insider Activity at Embecta

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 shares were 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 approximately $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Embecta Stock Up 2.4 %

Shares of EMBC opened at $12.30 on Monday. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48. The stock has a market capitalization of $715.05 million, a P/E ratio of 12.30, a P/E/G ratio of 0.78 and a beta of 1.23. The company has a 50 day moving average of $13.73 and a 200-day moving average of $15.99.

Embecta (NASDAQ:EMBC) last released its earnings results 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%. On average, sell-side analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.88%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

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.