Embecta Corp. (NASDAQ:EMBC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 19.2% during the 4th quarter, Holdings Channel reports. The fund owned 217,532 shares of the company’s stock after selling 51,850 shares during the quarter. AQR Capital Management LLC’s holdings in Embecta were worth $4,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Embecta by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company’s stock valued at $145,076,000 after acquiring an additional 28,031 shares during the period. American Century Companies Inc. grew its holdings in Embecta by 8.0% in the fourth quarter. American Century Companies Inc. now owns 3,261,934 shares of the company’s stock valued at $67,359,000 after purchasing an additional 242,668 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Embecta in the fourth quarter valued at approximately $15,270,000. Northern Trust Corp raised its stake in shares of Embecta by 10.5% during the 4th quarter. Northern Trust Corp now owns 700,972 shares of the company’s stock worth $14,475,000 after buying an additional 66,367 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Embecta by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock valued at $14,155,000 after buying an additional 4,769 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Mizuho assumed coverage on shares of Embecta in a report on Thursday, April 10th. They issued a “neutral” rating and a $15.00 price target for the company.

Embecta Price Performance

Shares of Embecta stock opened at $12.00 on Friday. The stock has a market capitalization of $697.61 million, a P/E ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.24. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $15.75. Embecta Corp. has a 12 month low of $10.83 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data 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 negative return on equity of 19.22% and a net margin of 5.25%. The company had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.00%. Embecta’s dividend payout ratio is presently 60.00%.

Insider Buying and Selling at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the sale, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by insiders.

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.