Embecta Corp. (NASDAQ:EMBC) Shares Sold by Clark Estates Inc. NY

Key Points

• Clark Estates Inc. NY reduced its shares in Embecta Corp. by 27.6%, now holding around 105,211 shares valued at approximately $1.34 million.
• Embecta's quarterly dividend of $0.15 per share, announced on June 13, represents a yield of 5.58% and a payout ratio of 66.67%.
• Embecta's stock has seen a 5.1% decline recently, with current trading around $10.75 against a 52-week low of $9.20 and high of $21.48.

Clark Estates Inc. NY decreased its holdings in Embecta Corp. (NASDAQ:EMBC - Free Report) by 27.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,211 shares of the company's stock after selling 40,173 shares during the quarter. Clark Estates Inc. NY owned about 0.18% of Embecta worth $1,341,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Embecta by 796.3% in the 4th 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. Ameriflex Group Inc. purchased a new position in Embecta in the 4th quarter worth $53,000. Siemens Fonds Invest GmbH purchased a new position in Embecta in the 4th quarter worth $77,000. Wealthquest Corp purchased a new position in Embecta in the 1st quarter worth $48,000. Finally, Picton Mahoney Asset Management purchased a new position in Embecta in the 1st quarter worth $50,000. Institutional investors and hedge funds own 93.83% of the company's stock.

Insider Buying and Selling at Embecta

In related news, Director David F. Melcher bought 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the acquisition, the director directly owned 86,681 shares in the company, valued at approximately $918,818.60. This trade represents a 13.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Embecta Stock Performance

Shares of Embecta stock traded down $0.20 on Friday, hitting $9.96. The company's stock had a trading volume of 673,486 shares, compared to its average volume of 522,700. Embecta Corp. has a 1 year low of $9.20 and a 1 year high of $21.48. The firm has a fifty day moving average price of $10.27 and a 200-day moving average price of $12.62. The company has a market capitalization of $582.06 million, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 19.67% and a net margin of 4.89%. The company had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. During the same period in the previous year, the business earned $0.67 EPS. Embecta's quarterly revenue was down 9.8% on a year-over-year basis. As a group, analysts forecast that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Wednesday, May 28th. Embecta's payout ratio is currently 66.67%.

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.