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

OMERS ADMINISTRATION Corp cut its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 75.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Meros Investment Management LP boosted its holdings in Embecta by 30.2% in the fourth quarter. Meros Investment Management LP now owns 247,312 shares of the company's stock valued at $5,107,000 after acquiring an additional 57,312 shares during the last quarter. Deutsche Bank AG boosted its holdings in Embecta by 40.8% in the fourth quarter. Deutsche Bank AG now owns 56,110 shares of the company's stock valued at $1,159,000 after acquiring an additional 16,249 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Embecta by 19.8% in the fourth 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 acquiring an additional 540,192 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Embecta in the fourth quarter valued at approximately $156,000. Finally, Algert Global LLC boosted its holdings in Embecta by 45.0% in 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 last quarter. 93.83% of the stock is currently owned by institutional investors.

Embecta Stock Up 2.0%

EMBC traded up $0.21 during trading on Monday, hitting $10.72. The company's stock had a trading volume of 796,519 shares, compared to its average volume of 462,648. Embecta Corp. has a twelve month low of $10.27 and a twelve month high of $21.48. The stock's fifty day moving average price is $12.07 and its 200-day moving average price is $15.53. The firm has a market capitalization of $626.51 million, a P/E ratio of 10.72, a PEG ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) 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 firm had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The company's revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's payout ratio is 66.67%.

Insider Transactions at Embecta

In other news, Director David F. Melcher bought 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $10.60 per share, with a total value of $106,000.00. Following the completion of the transaction, the director now directly owns 86,681 shares of the company's stock, valued at $918,818.60. This trade represents a 13.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on EMBC. Wall Street Zen upgraded Embecta from a "hold" rating to a "buy" rating in a report on Thursday. BTIG Research set a $25.00 price target on Embecta and gave the company a "buy" rating in a research note on Friday. Finally, Mizuho dropped their price target on Embecta from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday.

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.