30,900 Shares in Embecta Corp. (NASDAQ:EMBC) Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH acquired 30,900 shares of Embecta Corp. valued at approximately $394,000, increasing its stake to about 0.05% of the company.
• Embecta Corp. announced a quarterly dividend of $0.15 per share, contributing to an annualized dividend yield of 6.0%.
• Institutional investors own 93.83% of Embecta's stock, with significant stakes from firms like Deerfield Management and JPMorgan Chase, which notably increased their shares in the fourth quarter.

Allianz Asset Management GmbH bought a new stake in Embecta Corp. (NASDAQ:EMBC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,900 shares of the company's stock, valued at approximately $394,000. Allianz Asset Management GmbH owned 0.05% of Embecta at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EMBC. Oppenheimer Asset Management Inc. grew its holdings in shares of Embecta by 9.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock worth $140,000 after acquiring an additional 907 shares during the period. Sterling Capital Management LLC grew its stake in Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after purchasing an additional 1,497 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Embecta by 13.3% during the 4th 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 in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Embecta by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock valued at $846,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in Embecta by 2.3% in the 1st quarter. Isthmus Partners LLC now owns 111,614 shares of the company's stock worth $1,423,000 after acquiring an additional 2,510 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Embecta

In other Embecta news, Director David F. Melcher bought 10,000 shares of Embecta stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the completion of the transaction, the director owned 86,681 shares in the company, valued at $918,818.60. The trade was a 13.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EMBC shares. BTIG Research set a $25.00 target price on Embecta and gave the company a "buy" rating in a report on Friday, May 23rd. Mizuho decreased their target price on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Embecta Stock Performance

Shares of EMBC stock traded up $0.10 during mid-day trading on Wednesday, reaching $10.02. The company's stock had a trading volume of 295,222 shares, compared to its average volume of 585,178. Embecta Corp. has a 1-year low of $9.20 and a 1-year high of $21.48. The company has a market cap of $585.28 million, a P/E ratio of 11.12, a PEG ratio of 0.63 and a beta of 1.08. The firm's 50-day moving average is $10.22 and its two-hundred day moving average is $12.50.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The firm had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The company's revenue was down 9.8% on a year-over-year basis. Sell-side analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

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.