D. E. Shaw & Co. Inc. Trims Position in Embecta Corp. (NASDAQ:EMBC)

D. E. Shaw & Co. Inc. decreased its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 888,897 shares of the company's stock after selling 139,903 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.53% of Embecta worth $18,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Embecta by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock worth $145,076,000 after buying an additional 28,031 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in shares of Embecta by 19.8% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock worth $67,537,000 after acquiring an additional 540,192 shares during the period. American Century Companies Inc. lifted its holdings in shares of Embecta by 8.0% during the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock worth $67,359,000 after acquiring an additional 242,668 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Embecta in the fourth quarter worth approximately $15,270,000. Finally, Northern Trust Corp grew its holdings in Embecta by 10.5% in the fourth quarter. Northern Trust Corp now owns 700,972 shares of the company's stock valued at $14,475,000 after purchasing an additional 66,367 shares during the period. Hedge funds and other institutional investors own 93.83% of the company's stock.

Insider Activity at Embecta

In other Embecta 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 value of $50,778.00. Following the completion of the sale, the director now owns 36,133 shares of the company's stock, valued at $591,858.54. This trade represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Embecta Price Performance

Embecta stock opened at $12.41 on Tuesday. The company has a market cap of $721.44 million, a price-to-earnings ratio of 12.41, a price-to-earnings-growth 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. The stock's 50-day moving average is $12.45 and its 200-day moving average is $15.76.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $261.77 million. During the same quarter last year, the firm posted $0.67 earnings per share. Embecta's revenue for the quarter was down 9.8% compared to the same quarter last year. Research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be given 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 4.83%. Embecta's dividend payout ratio (DPR) is 66.67%.

Wall Street Analysts Forecast Growth

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

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.

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