D. E. Shaw & Co. Inc. Sells 139,903 Shares of Embecta Corp. (NASDAQ:EMBC)

D. E. Shaw & Co. Inc. lowered its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,897 shares of the company's stock after selling 139,903 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.53% of Embecta worth $18,356,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in Embecta by 41.1% in 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 during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Embecta during the fourth quarter valued at approximately $209,000. Bank of New York Mellon Corp boosted its position in shares of Embecta by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after purchasing an additional 4,769 shares during the period. Amundi boosted its position in shares of Embecta by 161.2% in the fourth quarter. Amundi now owns 32,287 shares of the company's stock worth $655,000 after purchasing an additional 19,925 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Embecta by 41.4% in the fourth 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 during the period. Institutional investors own 93.83% of the company's stock.

Analyst Ratings Changes

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

Embecta Stock Up 3.1%

Embecta stock traded up $0.36 during mid-day trading on Friday, reaching $12.02. 531,298 shares of the company's stock traded hands, compared to its average volume of 451,784. The company has a market cap of $702.48 million, a price-to-earnings ratio of 12.02, a PEG ratio of 0.78 and a beta of 1.24. The stock has a 50 day moving average of $12.31 and a two-hundred day moving average of $15.69. 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 announced its earnings results on Friday, May 9th. The company reported $0.70 earnings per share 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 business had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is presently 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.