Isthmus Partners LLC Sells 1,784 Shares of Embecta Corp. (NASDAQ:EMBC)

Isthmus Partners LLC lessened its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,104 shares of the company’s stock after selling 1,784 shares during the period. Isthmus Partners LLC’s holdings in Embecta were worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rubric Capital Management LP bought a new stake in Embecta during the third quarter worth about $15,306,000. Raymond James Financial Inc. bought a new stake in shares of Embecta in the 4th quarter worth approximately $6,598,000. Meros Investment Management LP purchased a new stake in shares of Embecta in the 3rd quarter worth approximately $2,679,000. Jane Street Group LLC grew its stake in shares of Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after buying an additional 107,567 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Embecta during the third quarter valued at $1,485,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on EMBC. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $13.00 to $20.00 in a research report on Monday, December 2nd.

Embecta Stock Down 1.0 %

Shares of NASDAQ EMBC opened at $12.75 on Monday. The firm has a market cap of $741.21 million, a P/E ratio of 12.75, a PEG ratio of 0.78 and a beta of 1.27. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48. The company has a 50 day moving average of $17.31 and a 200 day moving average of $16.50.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts expect that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, February 28th. Embecta’s dividend payout ratio is currently 60.00%.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

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.