Price T Rowe Associates Inc. MD Acquires 3,792 Shares of Embecta Corp. (NASDAQ:EMBC)

Price T Rowe Associates Inc. MD raised its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,537 shares of the company’s stock after purchasing an additional 3,792 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.10% of Embecta worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 774 shares in the last quarter. Sterling Capital Management LLC boosted its position in Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock valued at $35,000 after buying an additional 1,497 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Embecta by 111.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company’s stock worth $150,000 after buying an additional 3,835 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Embecta during the fourth quarter worth approximately $209,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Embecta in the fourth quarter valued at approximately $215,000. 93.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Milton Mayo Morris sold 3,100 shares of the firm’s 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 transaction, the director now owns 36,133 shares of the company’s stock, valued at approximately $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 hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Separately, Mizuho assumed coverage on Embecta in a research report on Thursday, April 10th. They set a “neutral” rating and a $15.00 price target on the stock.

Embecta Stock Down 9.8 %

Shares of NASDAQ:EMBC opened at $12.00 on Friday. Embecta Corp. has a 12 month low of $10.83 and a 12 month high of $21.48. The firm has a market cap of $697.61 million, a P/E ratio of 12.00, a P/E/G ratio of 0.78 and a beta of 1.24. The company’s 50-day moving average price is $12.46 and its two-hundred day moving average price is $15.75.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The business had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. During the same quarter last year, the business posted $0.67 earnings per share. Embecta’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.00%. Embecta’s dividend payout ratio 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.