Yacktman Asset Management LP Reduces Stock Position in Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP decreased its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 approximately 4.05% of Embecta worth $30,056,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake 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 in the last quarter. Sterling Capital Management LLC boosted its stake in Embecta by 796.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after acquiring an additional 1,497 shares in the last quarter. Wealthquest Corp bought a new stake in Embecta during the first quarter worth about $48,000. Ameriflex Group Inc. bought a new stake in Embecta during the fourth quarter worth about $53,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Embecta during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

Insiders Place Their Bets

In other Embecta news, Director David F. Melcher acquired 10,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $10.60 per share, with a total value of $106,000.00. Following the purchase, the director directly owned 86,681 shares of the company's stock, valued at approximately $918,818.60. This represents a 13.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company's stock.

Analyst Ratings Changes

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

Embecta Stock Performance

Shares of NASDAQ EMBC traded up $0.17 during midday trading on Wednesday, reaching $10.60. The stock had a trading volume of 365,040 shares, compared to its average volume of 499,988. The stock has a 50-day moving average of $10.82 and a 200-day moving average of $13.84. The company has a market capitalization of $619.46 million, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. 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 announced its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million during the quarter, compared to analysts' expectations of $261.77 million. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.60 annualized dividend and a yield of 5.66%. Embecta's payout ratio is 66.67%.

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.