Wealthfront Advisers LLC Buys New Stake in Embecta Corp. (NASDAQ:EMBC)

Wealthfront Advisers LLC purchased a new stake in Embecta Corp. (NASDAQ:EMBC) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 21,592 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors also recently bought and sold shares of the business. Inspire Advisors LLC raised its holdings in Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company’s stock valued at $667,000 after acquiring an additional 1,138 shares during the last quarter. Amundi raised its holdings in Embecta by 161.2% in the 4th quarter. Amundi now owns 32,287 shares of the company’s stock valued at $655,000 after acquiring an additional 19,925 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Embecta in the 4th quarter valued at $6,598,000. Victory Capital Management Inc. raised its holdings in Embecta by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after acquiring an additional 923 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised 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. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Trading Up 1.2 %

Shares of EMBC opened at $13.15 on Monday. The firm has a market capitalization of $764.46 million, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The stock’s fifty day simple moving average is $16.62 and its 200 day simple moving average is $16.48. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share 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 predict that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Friday, February 28th. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Insider Buying and Selling at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the firm’s 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 transaction, the director now directly owns 36,133 shares of the company’s stock, valued at $591,858.54. This trade represents a 7.90 % decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. 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 report on Monday, December 2nd. BTIG Research raised 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.

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.