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

AQR Capital Management LLC reduced its holdings in Embecta Corp. (NASDAQ:EMBC - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after purchasing an additional 774 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Embecta by 796.3% during the fourth 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. Tower Research Capital LLC TRC boosted its holdings in shares of Embecta by 111.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company's stock worth $150,000 after buying an additional 3,835 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Embecta during the 4th quarter valued at $209,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Embecta during the 4th quarter valued at $215,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business'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 transaction, the director now directly owns 36,133 shares of the company's stock, valued at approximately $591,858.54. The trade was a 7.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Mizuho began 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.

Embecta Stock Up 0.7%

Shares of EMBC stock traded up $0.09 on Tuesday, reaching $12.50. The stock had a trading volume of 532,003 shares, compared to its average volume of 449,714. The firm's 50-day moving average is $12.44 and its two-hundred day moving average is $15.75. The firm has a market capitalization of $726.68 million, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.78 and a beta of 1.24. Embecta Corp. has a 12 month low of $10.83 and a 12 month high of $21.48.

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

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 annualized dividend and a dividend yield of 4.80%. Embecta's payout ratio is 66.67%.

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.