Alliancebernstein L.P. Sells 15,768 Shares of Embecta Corp. (NASDAQ:EMBC)

Alliancebernstein L.P. lowered its position in Embecta Corp. (NASDAQ:EMBC) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,456 shares of the company’s stock after selling 15,768 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of Embecta worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brandywine Global Investment Management LLC bought a new position in shares of Embecta during the 4th quarter worth $4,043,000. Arrowstreet Capital Limited Partnership grew its holdings in Embecta by 36.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 169,164 shares of the company’s stock worth $3,493,000 after acquiring an additional 44,997 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Embecta by 121.1% during the 4th quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company’s stock worth $6,631,000 after acquiring an additional 175,857 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Embecta by 40.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 148,145 shares of the company’s stock valued at $3,059,000 after purchasing an additional 42,836 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Embecta by 41.4% in the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company’s stock valued at $3,192,000 after purchasing an additional 45,290 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the transaction, the director now 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

Embecta Price Performance

Shares of EMBC stock opened at $11.34 on Thursday. The stock’s 50-day moving average is $13.37 and its 200 day moving average is $15.92. Embecta Corp. has a 1-year low of $10.00 and a 1-year high of $21.48. The company has a market cap of $659.24 million, a P/E ratio of 11.34, a PEG ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data 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, analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.29%. Embecta’s dividend payout ratio is presently 60.00%.

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.