Yacktman Asset Management LP Has $30.06 Million Holdings in Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP reduced its stake in 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. The institutional investor 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 SEC filing.

Several other institutional investors have also added to or reduced their stakes in EMBC. Smartleaf Asset Management LLC increased its stake in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 774 shares during the last quarter. Sterling Capital Management LLC increased its stake 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 worth $35,000 after purchasing an additional 1,497 shares during the last quarter. Wealthquest Corp acquired a new position in shares of Embecta during the 1st quarter worth about $48,000. Ameriflex Group Inc. acquired a new position in shares of Embecta during the 4th quarter worth about $53,000. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of Embecta during the 4th quarter worth about $77,000. 93.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Embecta news, Director David F. Melcher purchased 10,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $10.60 per share, with a total value of $106,000.00. Following the completion of the purchase, the director owned 86,681 shares of the company's stock, valued at approximately $918,818.60. The trade was a 13.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is currently owned by insiders.

Embecta Stock Performance

EMBC traded down $0.26 on Friday, reaching $10.47. The company had a trading volume of 397,140 shares, compared to its average volume of 500,768. Embecta Corp. has a fifty-two week low of $9.20 and a fifty-two week high of $21.48. The stock has a market cap of $611.90 million, a P/E ratio of 11.63, a P/E/G ratio of 0.68 and a beta of 1.08. The company's fifty day moving average is $10.76 and its 200 day moving average is $13.75.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its earnings results 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. 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 analyst estimates of $261.77 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business's revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date was Wednesday, May 28th. Embecta's dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

EMBC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Embecta from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Mizuho lowered their price objective 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. Finally, BTIG Research set a $25.00 price target on shares of Embecta and gave the company a "buy" rating in a research note on Friday, May 23rd.

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.