Nuveen Asset Management LLC Has $3.51 Million Position in Embecta Corp. (NASDAQ:EMBC)

Nuveen Asset Management LLC lowered its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 27.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,869 shares of the company's stock after selling 62,783 shares during the period. Nuveen Asset Management LLC owned approximately 0.29% of Embecta worth $3,508,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in Embecta during the 4th quarter valued at $209,000. Bank of New York Mellon Corp raised its stake in Embecta by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock valued at $14,155,000 after purchasing an additional 4,769 shares during the period. Amundi raised its stake in Embecta by 161.2% during the 4th quarter. Amundi now owns 32,287 shares of the company's stock valued at $655,000 after purchasing an additional 19,925 shares during the period. Prudential Financial Inc. raised its stake in Embecta by 41.4% during the 4th quarter. Prudential Financial Inc. now owns 154,580 shares of the company's stock valued at $3,192,000 after purchasing an additional 45,290 shares during the period. Finally, Vanguard Group Inc. raised its stake in Embecta by 0.4% during the 4th 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 period. Institutional investors own 93.83% of the company's stock.

Wall Street Analyst Weigh In

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

Embecta Stock Down 4.0%

Shares of Embecta stock traded down $0.42 on Thursday, hitting $9.98. 540,584 shares of the company traded hands, compared to its average volume of 470,831. The company has a 50-day moving average price of $11.73 and a 200 day moving average price of $15.27. Embecta Corp. has a 12-month low of $9.98 and a 12-month high of $21.48. The company has a market cap of $583.26 million, a PE ratio of 9.98, a PEG ratio of 0.78 and a beta of 1.13.

Embecta (NASDAQ:EMBC - Get Free Report) last issued 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 5.25% and a negative return on equity of 19.22%. Embecta's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. Equities research analysts anticipate that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Wednesday, May 28th. Embecta's dividend payout ratio is presently 66.67%.

Insider Buying and Selling

In other news, Director David F. Melcher bought 10,000 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 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 document filed with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

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.