Embecta Corp. (NASDAQ:EMBC) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,707 shares of the company’s stock after selling 13,218 shares during the period. AlphaQuest LLC’s holdings in Embecta were worth $77,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi raised its holdings in Embecta by 161.2% during the fourth quarter. Amundi now owns 32,287 shares of the company’s stock worth $655,000 after purchasing an additional 19,925 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Embecta during the fourth quarter worth $6,598,000. Victory Capital Management Inc. raised its holdings in Embecta by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock worth $361,000 after purchasing an additional 923 shares during the last quarter. Smartleaf Asset Management LLC raised 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 purchasing an additional 774 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Embecta during the fourth quarter worth $209,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and increased their target price 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 target price on the stock in a report on Wednesday, November 27th.

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 currently owned by insiders.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $13.63 on Thursday. The business’s fifty day moving average price is $16.22 and its two-hundred day moving average price is $16.42. The stock has a market cap of $792.37 million, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Embecta Corp. has a one year low of $9.93 and a one year high of $21.48.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 4.40%. 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.