Oppenheimer Asset Management Inc. Takes $209,000 Position in Embecta Corp. (NASDAQ:EMBC)

Oppenheimer Asset Management Inc. bought a new stake in shares of Embecta Corp. (NASDAQ:EMBC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,097 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also recently added to or reduced their stakes in EMBC. Rubric Capital Management LP bought a new position in Embecta during the third quarter worth $15,306,000. Meros Investment Management LP bought a new position in Embecta during the third quarter worth $2,679,000. Jane Street Group LLC lifted its stake in Embecta by 156.1% in the third quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after buying an additional 107,567 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Embecta in the third quarter valued at $1,485,000. Finally, Geode Capital Management LLC lifted its stake in Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after buying an additional 45,228 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

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

Embecta Stock Performance

EMBC stock opened at $12.75 on Friday. The stock has a market capitalization of $741.21 million, a price-to-earnings ratio of 12.75, a PEG ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The stock’s fifty day moving average is $17.31 and its two-hundred day moving average is $16.46.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating 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%. As a group, analysts predict that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, February 28th. Embecta’s dividend payout ratio (DPR) is 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.