Victory Capital Management Inc. Has $361,000 Stake in Embecta Corp. (NASDAQ:EMBC)

Victory Capital Management Inc. lifted its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 17,489 shares of the company’s stock after buying an additional 923 shares during the quarter. Victory Capital Management Inc.’s holdings in Embecta were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EMBC. Smartleaf Asset Management LLC raised its holdings in shares of Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Embecta during the 4th quarter worth approximately $209,000. Bank of New York Mellon Corp boosted its holdings in Embecta by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock worth $14,155,000 after acquiring an additional 4,769 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Embecta by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 280,004 shares of the company’s stock valued at $5,782,000 after acquiring an additional 7,887 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Embecta by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,600 shares during the period. 93.83% of the stock is owned by institutional investors.

Embecta Price Performance

EMBC opened at $12.82 on Friday. The firm’s fifty day moving average price is $15.94 and its two-hundred day moving average price is $16.37. The company 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 1 year low of $9.93 and a 1 year high of $21.48.

Embecta (NASDAQ:EMBC) last released its quarterly 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 net margin of 5.25% and a negative return on equity of 19.22%. As a group, equities analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on EMBC. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, November 27th. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

Insider Buying and Selling

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business’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 directly owns 36,133 shares in the company, valued at $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Embecta Company 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.