Bank of New York Mellon Corp Acquires 4,769 Shares of Embecta Corp. (NASDAQ:EMBC)

Bank of New York Mellon Corp increased its holdings in Embecta Corp. (NASDAQ:EMBC) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 685,493 shares of the company’s stock after buying an additional 4,769 shares during the quarter. Bank of New York Mellon Corp’s holdings in Embecta were worth $14,155,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in shares of Embecta by 5.7% during the 3rd quarter. Natixis Advisors LLC now owns 30,735 shares of the company’s stock valued at $433,000 after acquiring an additional 1,648 shares during the last quarter. Quest Partners LLC purchased a new stake in Embecta in the third quarter worth approximately $239,000. Segall Bryant & Hamill LLC bought a new stake in Embecta in the 3rd quarter worth approximately $1,485,000. Jennison Associates LLC purchased a new stake in Embecta during the 3rd quarter valued at $594,000. Finally, Intech Investment Management LLC bought a new position in shares of Embecta during the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Insider Activity at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the sale, the director now directly 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 at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Embecta Trading Down 5.7 %

Shares of EMBC stock opened at $13.51 on Thursday. The company has a 50 day simple moving average of $16.91 and a two-hundred day simple moving average of $16.49. The stock has a market cap of $785.39 million, a P/E ratio of 13.51, 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 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%. As a group, equities analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.44%. Embecta’s payout ratio is currently 60.00%.

Analysts Set New Price Targets

Several analysts recently commented on EMBC shares. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, November 27th. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $20.00 in a research note 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.