Embecta Corp. (NASDAQ:EMBC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Embecta Corp. (NASDAQ:EMBC) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,917 shares of the company’s stock after selling 4,068 shares during the period. Rhumbline Advisers owned 0.32% of Embecta worth $3,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EMBC. Quarry LP purchased a new stake in Embecta in the third quarter valued at approximately $30,000. Intech Investment Management LLC purchased a new stake in Embecta in the third quarter valued at approximately $211,000. Wilmington Savings Fund Society FSB purchased a new stake in Embecta in the third quarter valued at approximately $217,000. Quest Partners LLC purchased a new stake in shares of Embecta during the third quarter worth $239,000. Finally, Verition Fund Management LLC increased its position in shares of Embecta by 45.3% during the third quarter. Verition Fund Management LLC now owns 17,682 shares of the company’s stock worth $249,000 after acquiring an additional 5,511 shares during the period. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Trading Up 0.7 %

Shares of Embecta stock opened at $13.50 on Friday. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48. The stock has a market cap of $784.81 million, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.78 and a beta of 1.20. The company has a 50-day moving average of $18.22 and a two-hundred day moving average of $16.53.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data 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%. On average, sell-side analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.44%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Insider Buying and Selling at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now owns 36,133 shares in the company, valued at $591,858.54. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $20.00 in a research note on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, November 27th.

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.