American Century Companies Inc. Acquires 18,933 Shares of Embecta Corp. (NASDAQ:EMBC)

American Century Companies Inc. grew its holdings in Embecta Corp. (NASDAQ:EMBC) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,163,073 shares of the company’s stock after acquiring an additional 18,933 shares during the period. American Century Companies Inc. owned 5.48% of Embecta worth $39,538,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Iat Reinsurance Co. LTD. bought a new stake in Embecta in the second quarter worth approximately $50,000. YHB Investment Advisors Inc. acquired a new position in Embecta in the 1st quarter valued at $56,000. CWM LLC grew its stake in Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after buying an additional 8,040 shares during the last quarter. Cardinal Capital Management acquired a new stake in Embecta in the 1st quarter worth $134,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Embecta in the 4th quarter worth $208,000. 93.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley decreased their price target on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Monday, July 15th.

Embecta Stock Performance

NASDAQ:EMBC opened at $16.50 on Wednesday. The company has a 50-day moving average of $14.84 and a 200-day moving average of $13.25. The company has a market capitalization of $951.56 million, a price-to-earnings ratio of 13.64 and a beta of 1.00. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The company had revenue of $272.50 million during the quarter, compared to the consensus estimate of $267.44 million. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Sell-side analysts forecast that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s payout ratio is 49.59%.

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.