American Century Companies Inc. Buys 551,477 Shares of Embecta Corp. $EMBC

Key Points

• American Century Companies Inc. increased its stake in Embecta Corp. by 16.9%, acquiring an additional 551,477 shares, bringing its total ownership to approximately 6.56% valued at $48.62 million.
• Embecta recently reported a quarterly earnings beat with earnings per share of $1.12, exceeding estimates by $0.35, alongside a revenue increase of 8.4% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, representing an annual yield of 4.4%, with the dividend payment scheduled for September 15th.

American Century Companies Inc. boosted its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,813,411 shares of the company's stock after buying an additional 551,477 shares during the quarter. American Century Companies Inc. owned approximately 6.56% of Embecta worth $48,621,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EMBC. Brandywine Global Investment Management LLC raised its stake in Embecta by 8.2% in the 1st quarter. Brandywine Global Investment Management LLC now owns 211,797 shares of the company's stock worth $2,700,000 after purchasing an additional 16,029 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Embecta in the first quarter valued at approximately $314,000. Neuberger Berman Group LLC acquired a new position in shares of Embecta in the first quarter worth approximately $143,000. Russell Investments Group Ltd. boosted its stake in shares of Embecta by 382.9% in the 1st quarter. Russell Investments Group Ltd. now owns 262,541 shares of the company's stock valued at $3,347,000 after purchasing an additional 208,170 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Embecta by 28.2% in the 1st quarter. Public Sector Pension Investment Board now owns 184,319 shares of the company's stock worth $2,350,000 after acquiring an additional 40,564 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EMBC shares. BTIG Research set a $25.00 price target on shares of Embecta and gave the company a "buy" rating in a research note on Friday, May 23rd. Mizuho dropped their price target on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Embecta from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Embecta presently has an average rating of "Hold" and an average price target of $19.00.

Embecta Stock Down 0.6%

Shares of NASDAQ:EMBC traded down $0.0850 on Monday, hitting $14.2950. The company had a trading volume of 36,290 shares, compared to its average volume of 603,365. The firm's 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $11.96. The firm has a market capitalization of $836.11 million, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.80 and a beta of 1.08. Embecta Corp. has a 1 year low of $9.20 and a 1 year high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.35. Embecta had a negative return on equity of 23.40% and a net margin of 7.58%.The business had revenue of $295.50 million during the quarter, compared to the consensus estimate of $278.15 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Embecta has set its FY 2025 guidance at 2.900-2.950 EPS. Equities research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 29th. Embecta's dividend payout ratio (DPR) is presently 41.96%.

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.