Raymond James Financial Inc. Purchases Shares of 319,516 Embecta Corp. (NASDAQ:EMBC)

Raymond James Financial Inc. purchased a new stake in Embecta Corp. (NASDAQ:EMBC) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 319,516 shares of the company’s stock, valued at approximately $6,598,000. Raymond James Financial Inc. owned about 0.55% of Embecta as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after acquiring an additional 774 shares during the last quarter. Quarry LP bought a new stake in shares of Embecta in the 3rd quarter worth about $30,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Embecta during the 4th quarter valued at about $209,000. Intech Investment Management LLC purchased a new stake in shares of Embecta during the 3rd quarter valued at about $211,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Embecta during the 3rd quarter valued at about $217,000. 93.83% of the stock is currently owned by institutional investors.

Embecta Trading Down 3.1 %

Shares of NASDAQ EMBC opened at $12.82 on Monday. The firm’s 50-day moving average price is $15.94 and its 200-day moving average price is $16.37. The stock has a market capitalization of $745.28 million, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.78 and a beta of 1.27. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48.

Embecta (NASDAQ:EMBC) last posted 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, equities analysts predict that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Friday, February 28th. Embecta’s dividend payout ratio (DPR) is currently 60.00%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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 $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.