OMERS ADMINISTRATION Corp Reduces Stock Position in Embecta Corp. (NASDAQ:EMBC)

OMERS ADMINISTRATION Corp lessened its holdings in Embecta Corp. (NASDAQ:EMBC - Free Report) by 75.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,700 shares of the company's stock after selling 29,100 shares during the period. OMERS ADMINISTRATION Corp's holdings in Embecta were worth $200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 774 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after buying an additional 1,497 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Embecta by 111.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company's stock worth $150,000 after buying an additional 3,835 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Embecta in the 4th quarter worth approximately $156,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Embecta in the 4th quarter worth approximately $209,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

Analysts Set New Price Targets

EMBC has been the topic of a number of research analyst reports. Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a research note on Thursday. Mizuho reduced their price objective on Embecta from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday.

Insiders Place Their Bets

In related news, Director David F. Melcher bought 10,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Embecta Stock Performance

NASDAQ EMBC traded up $0.21 on Friday, hitting $10.72. 796,519 shares of the stock traded hands, compared to its average volume of 462,043. The business's fifty day moving average is $12.13 and its two-hundred day moving average is $15.57. Embecta Corp. has a 12 month low of $10.27 and a 12 month high of $21.48. The firm has a market capitalization of $626.51 million, a price-to-earnings ratio of 10.72, a PEG ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The business had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. During the same period in the prior year, the company earned $0.67 earnings per share. Embecta's revenue was down 9.8% compared to the same quarter last year. Analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.60%. The ex-dividend date is Wednesday, May 28th. Embecta's dividend payout ratio (DPR) is 66.67%.

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.