Nuveen Asset Management LLC Cuts Stake in Embecta Corp. (NASDAQ:EMBC)

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

Other hedge funds also recently modified their holdings of the company. Meros Investment Management LP grew its stake in shares of Embecta by 30.2% in the fourth quarter. Meros Investment Management LP now owns 247,312 shares of the company's stock worth $5,107,000 after acquiring an additional 57,312 shares during the last quarter. Deutsche Bank AG increased its position in shares of Embecta by 40.8% during the fourth quarter. Deutsche Bank AG now owns 56,110 shares of the company's stock valued at $1,159,000 after purchasing an additional 16,249 shares during the period. Deerfield Management Company L.P. Series C raised its stake in shares of Embecta by 19.8% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company's stock valued at $67,537,000 after buying an additional 540,192 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Embecta during the fourth quarter worth about $156,000. Finally, Algert Global LLC lifted its holdings in shares of Embecta by 45.0% during the fourth quarter. Algert Global LLC now owns 152,301 shares of the company's stock valued at $3,145,000 after acquiring an additional 47,260 shares during the period. Institutional investors and hedge funds own 93.83% of the company's stock.

Analyst Ratings Changes

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

Embecta Stock Performance

NASDAQ:EMBC traded down $0.05 during mid-day trading on Thursday, hitting $10.36. 39,757 shares of the stock were exchanged, compared to its average volume of 467,747. Embecta Corp. has a fifty-two week low of $10.20 and a fifty-two week high of $21.48. The firm's 50-day simple moving average is $11.78 and its 200 day simple moving average is $15.30. The stock has a market capitalization of $605.18 million, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last released 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. The company had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. Embecta's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, analysts predict that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.79%. Embecta's payout ratio is 66.67%.

Insider Buying and Selling at Embecta

In other news, Director David F. Melcher bought 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director now directly owns 86,681 shares in the company, valued at approximately $918,818.60. This represents 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. Corporate insiders own 0.42% of the company's stock.

Embecta Company 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.