Embecta Corp. (NASDAQ:EMBC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,468 shares of the company's stock after selling 37,245 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.29% of Embecta worth $3,438,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EMBC. William Blair Investment Management LLC bought a new position in Embecta during the 4th quarter valued at $15,270,000. Raymond James Financial Inc. bought a new position in shares of Embecta in the 4th quarter worth about $6,598,000. American Century Companies Inc. lifted its position in shares of Embecta by 8.0% in the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock worth $67,359,000 after buying an additional 242,668 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Embecta in the 4th quarter worth about $4,043,000. Finally, Ancora Advisors LLC lifted its position in shares of Embecta by 275.9% in the 4th quarter. Ancora Advisors LLC now owns 254,156 shares of the company's stock worth $5,248,000 after buying an additional 186,550 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EMBC shares. Mizuho reduced their price target on shares of Embecta from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Embecta from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, BTIG Research set a $25.00 price target on shares of Embecta and gave the stock a "buy" rating in a research report on Friday, May 23rd.

Embecta Trading Up 1.6%

NASDAQ:EMBC traded up $0.17 during mid-day trading on Friday, hitting $10.62. The stock had a trading volume of 830,947 shares, compared to its average volume of 467,016. The stock has a market capitalization of $620.66 million, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.78 and a beta of 1.24. The company has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $15.40. Embecta Corp. has a 52 week low of $10.27 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Embecta's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. As a group, equities research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.60 annualized dividend and a yield of 5.65%. Embecta's dividend payout ratio is presently 66.67%.

Insider Activity at Embecta

In related news, Director David F. Melcher bought 10,000 shares of the 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 purchase, the director now owns 86,681 shares in the company, valued at approximately $918,818.60. This represents a 13.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

About Embecta

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.