Yacktman Asset Management LP Has $49.21 Million Stake in Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP lowered its position in Embecta Corp. (NASDAQ:EMBC) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,383,032 shares of the company’s stock after selling 142,735 shares during the period. Yacktman Asset Management LP’s holdings in Embecta were worth $49,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC acquired a new stake in shares of Embecta in the third quarter worth $438,000. Barclays PLC raised its holdings in Embecta by 41.1% in the 3rd quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after acquiring an additional 28,523 shares during the period. Jennison Associates LLC acquired a new position in Embecta during the 3rd quarter worth $594,000. Jane Street Group LLC boosted its holdings in Embecta by 156.1% during 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 period. Finally, Geode Capital Management LLC grew its position in shares of Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock valued at $19,564,000 after purchasing an additional 45,228 shares during the last quarter. Institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EMBC shares. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd. BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, November 27th.

Embecta Price Performance

NASDAQ EMBC opened at $17.50 on Tuesday. The company’s fifty day moving average is $19.58 and its two-hundred day moving average is $16.55. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 0.95 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, sell-side analysts expect that Embecta Corp. will post 2.87 earnings per share for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.43%. Embecta’s payout ratio is 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.