Allianz Asset Management GmbH Acquires New Holdings in Embecta Corp. (NASDAQ:EMBC)

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 purchased a new stake in Embecta Corp. (NASDAQ:EMBC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,900 shares of the company's stock, valued at approximately $394,000. Allianz Asset Management GmbH owned approximately 0.05% of Embecta as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Embecta by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock worth $145,076,000 after purchasing an additional 28,031 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in 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 purchasing an additional 540,192 shares in the last quarter. Northern Trust Corp increased its position in Embecta by 10.5% during the 4th quarter. Northern Trust Corp now owns 700,972 shares of the company's stock worth $14,475,000 after purchasing an additional 66,367 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Embecta by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 566,993 shares of the company's stock worth $11,708,000 after purchasing an additional 73,165 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Embecta by 121.1% during the fourth quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company's stock worth $6,631,000 after buying an additional 175,857 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Embecta Trading Down 1.7%

NASDAQ:EMBC traded down $0.17 on Monday, reaching $9.79. The stock had a trading volume of 324,384 shares, compared to its average volume of 587,437. The company has a 50-day moving average of $10.27 and a 200 day moving average of $12.58. The stock has a market cap of $572.13 million, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. Embecta Corp. has a 12-month low of $9.20 and a 12-month high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. 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 company posted $0.67 earnings per share. The company's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Embecta

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

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.