Northern Trust Corp Buys 66,367 Shares of Embecta Corp. (NASDAQ:EMBC)

Northern Trust Corp increased its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700,972 shares of the company's stock after purchasing an additional 66,367 shares during the quarter. Northern Trust Corp owned about 1.21% of Embecta worth $14,475,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new stake in Embecta in the fourth quarter worth about $209,000. Bank of New York Mellon Corp lifted its holdings 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 worth $14,155,000 after purchasing an additional 4,769 shares during the period. Amundi raised its position in Embecta by 161.2% in the fourth quarter. Amundi now owns 32,287 shares of the company's stock worth $655,000 after acquiring an additional 19,925 shares in the last quarter. Prudential Financial Inc. raised its position in 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 acquiring an additional 45,290 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Embecta by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock worth $145,076,000 after acquiring an additional 28,031 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company's stock.

Embecta Stock Down 3.3%

Embecta stock traded down $0.40 during mid-day trading on Monday, hitting $11.62. 296,265 shares of the company were exchanged, compared to its average volume of 451,162. The business has a fifty day moving average of $12.31 and a 200 day moving average of $15.69. Embecta Corp. has a 1-year low of $10.83 and a 1-year high of $21.48. The company has a market capitalization of $679.11 million, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The business had revenue of $259.00 million for the quarter, compared to analysts' expectations of $261.77 million. During the same quarter last year, the business earned $0.67 earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Wednesday, May 28th will be paid a $0.15 dividend. 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 is 66.67%.

Analysts Set New Price Targets

Separately, Mizuho assumed coverage on Embecta in a report on Thursday, April 10th. They set a "neutral" rating and a $15.00 price objective on the stock.

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.