Charles Schwab Investment Management Inc. Lowers Position in Embecta Corp. (NASDAQ:EMBC)

Charles Schwab Investment Management Inc. cut its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 782,190 shares of the company’s stock after selling 180,834 shares during the period. Charles Schwab Investment Management Inc. owned about 1.35% of Embecta worth $16,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EMBC. Smartleaf Asset Management LLC lifted its position in Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares in the last quarter. Quarry LP purchased a new position in Embecta during the third quarter valued at $30,000. Oppenheimer Asset Management Inc. purchased a new position in Embecta during the fourth quarter valued at $209,000. Intech Investment Management LLC purchased a new position in Embecta during the third quarter valued at $211,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Embecta during the third quarter valued at $217,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Embecta Stock Down 2.9 %

NASDAQ:EMBC opened at $13.23 on Friday. The business’s 50-day simple moving average is $16.08 and its two-hundred day simple moving average is $16.40. The stock has a market cap of $769.11 million, a PE ratio of 13.23, a P/E/G ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 4.54%. Embecta’s dividend payout ratio (DPR) is 60.00%.

Insider Transactions at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value 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. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

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

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.