Allworth Financial LP Decreases Stake in Embecta Corp. (NASDAQ:EMBC)

Allworth Financial LP decreased its position in shares of Embecta Corp. (NASDAQ:EMBC) by 46.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745 shares of the company’s stock after selling 1,535 shares during the period. Allworth Financial LP’s holdings in Embecta were worth $33,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in Embecta by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,105 shares of the company’s stock worth $584,000 after purchasing an additional 403 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Embecta by 62.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock worth $30,000 after buying an additional 528 shares during the last quarter. Deutsche Bank AG grew its position in Embecta by 1.6% in the fourth quarter. Deutsche Bank AG now owns 37,918 shares of the company’s stock worth $959,000 after buying an additional 604 shares during the last quarter. Credit Suisse AG grew its position in Embecta by 1.6% in the first quarter. Credit Suisse AG now owns 52,393 shares of the company’s stock worth $1,473,000 after buying an additional 813 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Embecta by 2.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,564 shares of the company’s stock worth $460,000 after buying an additional 834 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Performance

Embecta stock opened at $10.25 on Monday. The firm has a market cap of $590.20 million, a price-to-earnings ratio of 10.79 and a beta of 0.73. Embecta Corp. has a 1 year low of $10.22 and a 1 year high of $32.00. The firm’s 50 day moving average price is $13.79 and its two-hundred day moving average price is $15.70.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.15. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The firm had revenue of $277.30 million for the quarter, compared to analysts’ expectations of $264.92 million. During the same period in the previous year, the company posted $0.93 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Embecta Corp. will post 2.14 EPS for the current fiscal year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend was Tuesday, February 27th. Embecta’s dividend payout ratio is currently 63.16%.

Insider Activity

In related news, Director David F. Melcher purchased 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $16.25 per share, for a total transaction of $32,500.00. Following the acquisition, the director now directly owns 45,080 shares in the company, valued at approximately $732,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

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.