Mackenzie Financial Corp Reduces Stake in Embecta Corp. (NASDAQ:EMBC)

Mackenzie Financial Corp trimmed its position in shares of Embecta Corp. (NASDAQ:EMBC) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,378 shares of the company’s stock after selling 5,682 shares during the quarter. Mackenzie Financial Corp’s holdings in Embecta were worth $518,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EMBC. River Road Asset Management LLC acquired a new position in shares of Embecta during the 3rd quarter worth $39,333,000. First Eagle Investment Management LLC acquired a new position in Embecta during the third quarter worth about $7,308,000. Barclays PLC lifted its holdings in shares of Embecta by 917.4% in the third quarter. Barclays PLC now owns 533,905 shares of the company’s stock valued at $8,035,000 after purchasing an additional 481,426 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Embecta by 32.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 991,998 shares of the company’s stock valued at $14,930,000 after purchasing an additional 240,364 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Embecta by 641.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 193,873 shares of the company’s stock worth $2,918,000 after purchasing an additional 167,732 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Insider Activity

In other news, Director David F. Melcher bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $16.25 per share, for a total transaction of $32,500.00. Following the completion of the transaction, the director now owns 45,080 shares in the company, valued at $732,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.28% of the company’s stock.

Embecta Stock Performance

EMBC stock opened at $10.31 on Friday. The stock’s 50 day moving average price is $12.81 and its 200 day moving average price is $15.45. The firm has a market cap of $593.65 million, a P/E ratio of 10.85 and a beta of 0.73. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $32.00.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.15. The business had revenue of $277.30 million for the quarter, compared to the consensus estimate of $264.92 million. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 earnings per share. On average, research analysts predict that Embecta Corp. will post 2.14 earnings per share for the current year.

Embecta Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.82%. Embecta’s dividend payout ratio (DPR) is presently 63.16%.

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.