Goldman Sachs Group Inc. Sells 204,563 Shares of Embecta Corp. $EMBC

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Embecta Corp. by 25.9%, owning approximately 1.00% of the company's shares after selling 204,563 shares in the first quarter.
• Embecta recently declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of 4.0% and a payout ratio of 41.96%.
• Embecta's earnings report indicated an EPS of $1.12, exceeding expectations, with revenue of $295.50 million, up 8.4% year-over-year.

Goldman Sachs Group Inc. decreased its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 25.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 583,846 shares of the company's stock after selling 204,563 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.00% of Embecta worth $7,444,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position 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 valued at $140,000 after purchasing an additional 907 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Embecta by 2.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,323 shares of the company's stock valued at $629,000 after purchasing an additional 1,159 shares during the period. Mackenzie Financial Corp increased its position in Embecta by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 40,956 shares of the company's stock worth $846,000 after acquiring an additional 1,743 shares during the period. Isthmus Partners LLC increased its position in Embecta by 2.3% during the first 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 period. Finally, Ameriflex Group Inc. bought a new position in Embecta during the fourth quarter worth $53,000. Institutional investors own 93.83% of the company's stock.

Embecta Stock Performance

Embecta stock traded down $0.24 during trading hours on Friday, reaching $14.93. 150,441 shares of the company's stock traded hands, compared to its average volume of 592,198. Embecta Corp. has a fifty-two week low of $9.20 and a fifty-two week high of $21.48. The firm has a market capitalization of $873.26 million, a price-to-earnings ratio of 10.44, a PEG ratio of 0.84 and a beta of 1.12. The firm's 50 day moving average is $12.75 and its 200-day moving average is $11.97.

Embecta (NASDAQ:EMBC - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.35. Embecta had a net margin of 7.58% and a negative return on equity of 23.40%. The company had revenue of $295.50 million for the quarter, compared to the consensus estimate of $278.15 million. During the same period in the prior year, the company posted $0.74 EPS. The company's 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. Analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.0%. Embecta's dividend payout ratio is 41.96%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Embecta from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Mizuho dropped their target price 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. Zacks Research raised shares of Embecta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, BTIG Research reaffirmed a "buy" rating and set a $25.00 target price on shares of Embecta in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

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.