AQR Capital Management LLC Reduces Stock Position in Embecta Corp. (NASDAQ:EMBC)

AQR Capital Management LLC lowered its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,532 shares of the company's stock after selling 51,850 shares during the period. AQR Capital Management LLC owned about 0.37% of Embecta worth $4,492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 28,523 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Embecta in the fourth quarter valued at about $209,000. Bank of New York Mellon Corp boosted its stake in Embecta by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock valued at $14,155,000 after acquiring an additional 4,769 shares during the last quarter. Amundi lifted its stake in shares of Embecta by 161.2% during the 4th quarter. Amundi now owns 32,287 shares of the company's stock valued at $655,000 after buying an additional 19,925 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Embecta by 41.4% in the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company's stock worth $3,192,000 after purchasing an additional 45,290 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Embecta Stock Performance

Embecta stock traded up $0.05 during midday trading on Thursday, hitting $11.64. 170,891 shares of the company's stock were exchanged, compared to its average volume of 448,664. Embecta Corp. has a 12 month low of $10.83 and a 12 month high of $21.48. The company has a market cap of $676.39 million, a PE ratio of 11.58, a P/E/G ratio of 0.78 and a beta of 1.24. The firm has a 50-day moving average of $12.41 and a two-hundred day moving average of $15.70.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The business had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. As a group, equities analysts expect that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.16%. Embecta's dividend payout ratio (DPR) is presently 66.67%.

Embecta Company 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.