Embecta Corp. (NASDAQ:EMBC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Embecta Corp. (NASDAQ:EMBC) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 289,605 shares of the company’s stock after purchasing an additional 9,601 shares during the period. Principal Financial Group Inc. owned about 0.50% of Embecta worth $3,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Embecta by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company’s stock valued at $361,000 after purchasing an additional 923 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Embecta during the 4th quarter worth $6,598,000. Amundi increased its holdings in shares of Embecta by 161.2% during the 4th quarter. Amundi now owns 32,287 shares of the company’s stock worth $655,000 after buying an additional 19,925 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Embecta during the 4th quarter worth $1,018,000. Finally, Natixis Advisors LLC increased its holdings in Embecta by 8.2% in the 4th quarter. Natixis Advisors LLC now owns 33,268 shares of the company’s stock valued at $687,000 after purchasing an additional 2,533 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Price Performance

Shares of EMBC opened at $9.85 on Friday. The company has a market cap of $575.63 million, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $13.39. Embecta Corp. has a one year low of $9.20 and a one year high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. The company had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Analysts expect that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.60 annualized dividend and a yield of 6.09%. Embecta’s payout ratio is presently 66.67%.

Analyst Ratings Changes

EMBC has been the subject of a number of research reports. BTIG Research set a $25.00 price target on Embecta and gave the stock a “buy” rating in a research note on Friday, May 23rd. Mizuho dropped their target price on Embecta from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wall Street Zen raised Embecta from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Insider Transactions at Embecta

In other Embecta news, Director David F. Melcher purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $10.60 per share, with a total value of $106,000.00. Following the completion of the purchase, the director owned 86,681 shares of the company’s stock, valued at $918,818.60. The trade was a 13.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently 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.