River Road Asset Management LLC Sells 229,883 Shares of Embecta Corp. (NASDAQ:EMBC)

River Road Asset Management LLC lessened its position in Embecta Corp. (NASDAQ:EMBC) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,247,389 shares of the company’s stock after selling 229,883 shares during the quarter. River Road Asset Management LLC owned 0.06% of Embecta worth $67,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EMBC. Rubric Capital Management LP bought a new position in Embecta in the third quarter valued at $15,306,000. Raymond James Financial Inc. bought a new position in Embecta in the fourth quarter valued at $6,598,000. Meros Investment Management LP bought a new position in Embecta in the third quarter valued at $2,679,000. Jane Street Group LLC increased its stake in Embecta by 156.1% in the third quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after acquiring an additional 107,567 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Embecta during the third quarter valued at about $1,485,000. Institutional investors own 93.83% of the company’s stock.

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 that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Embecta Price Performance

EMBC stock opened at $13.96 on Tuesday. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The company has a market cap of $811.55 million, a P/E ratio of 13.96, a PEG ratio of 0.78 and a beta of 1.27. The firm has a 50-day moving average of $17.18 and a 200 day moving average of $16.51.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. On average, equities research analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, February 28th. 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.