Embecta Corp. (NASDAQ:EMBC) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP trimmed its position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,357,317 shares of the company's stock after selling 25,715 shares during the quarter. Yacktman Asset Management LP owned 4.05% of Embecta worth $30,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 774 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Embecta by 796.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock valued at $35,000 after purchasing an additional 1,497 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Embecta during the 4th quarter valued at about $53,000. Siemens Fonds Invest GmbH bought a new position in shares of Embecta in the 4th quarter valued at about $77,000. Finally, Wealthquest Corp bought a new position in shares of Embecta in the 1st quarter valued at about $48,000. 93.83% of the stock is owned by institutional investors.

Embecta Price Performance

Shares of NASDAQ:EMBC traded up $0.19 during trading on Thursday, reaching $10.79. 77,737 shares of the company were exchanged, compared to its average volume of 590,871. The firm has a market capitalization of $630.57 million, a PE ratio of 11.99, a P/E/G ratio of 0.67 and a beta of 1.08. The business's fifty day simple moving average is $10.79 and its 200-day simple moving average is $13.82. 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 released its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The firm had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. During the same period last year, the firm earned $0.67 earnings per share. The company's quarterly revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.60 annualized dividend and a yield of 5.56%. Embecta's dividend payout ratio (DPR) is 66.67%.

Insiders Place Their Bets

In other news, Director David F. Melcher bought 10,000 shares of the stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the purchase, the director directly owned 86,681 shares in the company, valued at approximately $918,818.60. The trade was a 13.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EMBC. Mizuho lowered their price target on shares of Embecta from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. BTIG Research set a $25.00 price objective on shares of Embecta and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

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.