Embecta Corp. (NASDAQ:EMBC) Shares Bought by Ancora Advisors LLC

Ancora Advisors LLC grew its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 275.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,156 shares of the company's stock after buying an additional 186,550 shares during the period. Ancora Advisors LLC owned 0.44% of Embecta worth $5,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in Embecta by 41.1% during the third quarter. Barclays PLC now owns 97,930 shares of the company's stock worth $1,381,000 after buying an additional 28,523 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Embecta in the 3rd quarter worth about $217,000. JPMorgan Chase & Co. grew its holdings in Embecta by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company's stock valued at $2,048,000 after purchasing an additional 1,600 shares during the period. Principal Financial Group Inc. raised its stake in shares of Embecta by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 280,004 shares of the company's stock worth $5,782,000 after buying an additional 7,887 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Embecta by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after acquiring an additional 4,769 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Trading Down 8.0 %

EMBC stock traded down $1.06 during midday trading on Friday, reaching $12.24. The stock had a trading volume of 503,641 shares, compared to its average volume of 455,767. Embecta Corp. has a 52-week low of $10.83 and a 52-week high of $21.48. The company has a market cap of $711.56 million, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24. The company's fifty day simple moving average is $12.45 and its 200 day simple moving average is $15.76.

Embecta (NASDAQ:EMBC - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The company had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. Sell-side analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.90%. Embecta's dividend payout ratio is currently 60.00%.

Insider Activity

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

Analyst Ratings Changes

Separately, Mizuho initiated coverage on shares of Embecta in a research note on Thursday, April 10th. They set a "neutral" rating and a $15.00 target price for the company.

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.