Jefferies Financial Group Inc. Raises Position in Embecta Corp. (NASDAQ:EMBC)

Key Points

• Jefferies Financial Group Inc. increased its stake in Embecta Corp. by 60.1%, now owning approximately $7.31 million worth of shares after purchasing an additional 215,000 shares in the first quarter.
• Embecta recently announced a quarterly dividend of $0.15 per share, translating to an annualized dividend of $0.60 and a dividend yield of 6.0%.
• Embecta's stock has seen a 2.0% decline recently, with its current market cap standing at $582.09 million and a price-to-earnings ratio of 11.07.

Jefferies Financial Group Inc. raised its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 60.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 573,000 shares of the company's stock after purchasing an additional 215,000 shares during the period. Jefferies Financial Group Inc. owned 0.99% of Embecta worth $7,306,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EMBC. KLP Kapitalforvaltning AS acquired a new position in shares of Embecta in the 4th quarter valued at $215,000. Vanguard Group Inc. boosted its holdings in Embecta by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company's stock valued at $145,076,000 after purchasing an additional 28,031 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Embecta by 121.1% in the fourth quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company's stock valued at $6,631,000 after purchasing an additional 175,857 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Embecta by 36.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 169,164 shares of the company's stock valued at $3,493,000 after purchasing an additional 44,997 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Embecta by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 53,241 shares of the company's stock valued at $1,099,000 after purchasing an additional 9,164 shares during the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. BTIG Research set a $25.00 price target on shares of Embecta and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Mizuho lowered their price target on shares of Embecta from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th.

Embecta Stock Up 0.8%

Shares of EMBC stock traded up $0.08 during mid-day trading on Wednesday, hitting $10.00. 358,116 shares of the stock were exchanged, compared to its average volume of 585,625. The firm has a fifty day moving average of $10.22 and a 200 day moving average of $12.50. Embecta Corp. has a 52-week low of $9.20 and a 52-week high of $21.48. The company has a market cap of $584.46 million, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. Embecta had a net margin of 4.89% and a negative return on equity of 19.67%. The business had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same period in the prior year, the company posted $0.67 EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Equities analysts predict that Embecta Corp. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, Director David F. Melcher purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $10.60 per share, with a total value of $106,000.00. Following the purchase, the director owned 86,681 shares of the company's stock, valued at $918,818.60. This represents a 13.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.42% of the company's stock.

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.