American Century Companies Inc. Raises Stock Position in Embecta Corp. (NASDAQ:EMBC)

American Century Companies Inc. raised its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,261,934 shares of the company’s stock after buying an additional 242,668 shares during the period. American Century Companies Inc. owned about 5.61% of Embecta worth $67,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMBC. Smartleaf Asset Management LLC grew its holdings in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after acquiring an additional 774 shares during the period. Quarry LP purchased a new stake in shares of Embecta during the 3rd quarter valued at about $30,000. Oppenheimer Asset Management Inc. bought a new position in shares of Embecta in the 4th quarter worth approximately $209,000. Intech Investment Management LLC purchased a new position in shares of Embecta in the third quarter worth approximately $211,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Embecta during the third quarter valued at approximately $217,000. 93.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the transaction, the director now owns 36,133 shares in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Embecta Trading Down 1.6 %

Embecta stock opened at $12.65 on Wednesday. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $21.48. The firm has a market capitalization of $735.40 million, a price-to-earnings ratio of 12.65, a P/E/G ratio of 0.78 and a beta of 1.27. The firm has a 50 day moving average of $15.65 and a 200 day moving average of $16.34.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, February 28th. Embecta’s dividend payout ratio (DPR) 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.