Walleye Capital LLC Makes New $3.46 Million Investment in Embecta Corp. (NASDAQ:EMBC)

Walleye Capital LLC purchased a new stake in Embecta Corp. (NASDAQ:EMBC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 167,498 shares of the company’s stock, valued at approximately $3,459,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EMBC. Smartleaf Asset Management LLC increased its holdings in Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after buying an additional 774 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock worth $35,000 after acquiring an additional 1,497 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Embecta in the 4th quarter valued at approximately $209,000. KLP Kapitalforvaltning AS acquired a new position in Embecta during the fourth quarter worth $215,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Embecta during the third quarter worth $217,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Price Performance

Shares of EMBC opened at $11.34 on Friday. Embecta Corp. has a 1-year low of $10.00 and a 1-year high of $21.48. The stock has a market cap of $659.24 million, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.78 and a beta of 1.23. The firm has a 50 day simple moving average of $13.24 and a 200-day simple moving average of $15.90.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

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

Insider Buying and Selling

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the sale, the director now owns 36,133 shares in the company, valued at $591,858.54. The trade was a 7.90 % decrease in their position. The transaction 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 company insiders.

Analyst Upgrades and Downgrades

Separately, Mizuho started coverage on Embecta in a research report on Thursday, April 10th. They issued a “neutral” rating and a $15.00 price target for the company.

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.