Embecta Corp. (NASDAQ:EMBC) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. reduced its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,014 shares of the company's stock after selling 20,522 shares during the quarter. Balyasny Asset Management L.P. owned approximately 1.10% of Embecta worth $13,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of 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 purchasing an additional 774 shares during the period. Victory Capital Management Inc. grew its stake in shares of Embecta by 5.6% in the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock valued at $361,000 after buying an additional 923 shares during the period. Inspire Advisors LLC increased its holdings in shares of Embecta by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after buying an additional 1,138 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after buying an additional 1,497 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Embecta by 13.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock valued at $282,000 after acquiring an additional 1,597 shares during the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Trading Down 9.8 %

EMBC stock traded down $1.30 during trading on Friday, hitting $12.00. 975,119 shares of the company's stock were exchanged, compared to its average volume of 447,584. The stock has a market capitalization of $697.61 million, a price-to-earnings ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.24. Embecta Corp. has a 52-week low of $10.83 and a 52-week high of $21.48. The business has a 50-day moving average price of $12.45 and a two-hundred day moving average price of $15.76.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.70 EPS 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 firm 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 firm posted $0.67 EPS. The company's revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.00%. Embecta's dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Mizuho began coverage on Embecta in a research report on Thursday, April 10th. They issued a "neutral" rating and a $15.00 target price on the 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.