Jacobs Levy Equity Management Inc. Lowers Position in Embecta Corp. (NASDAQ:EMBC)

Jacobs Levy Equity Management Inc. cut its stake in Embecta Corp. (NASDAQ:EMBC - Free Report) by 58.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,894 shares of the company's stock after selling 151,516 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.19% of Embecta worth $2,269,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Separately, Mizuho began coverage on Embecta in a research report on Thursday, April 10th. They set a "neutral" rating and a $15.00 price target for the company.

Embecta Price Performance

NASDAQ:EMBC opened at $11.66 on Friday. The business has a fifty day simple moving average of $12.36 and a two-hundred day simple moving average of $15.68. Embecta Corp. has a 1 year low of $10.83 and a 1 year high of $21.48. The company has a market capitalization of $681.45 million, a P/E ratio of 11.66, a P/E/G 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 analysts' consensus estimates 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 the consensus estimate of $261.77 million. During the same period last year, the business posted $0.67 earnings per share. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is currently 66.67%.

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.

Want to see what other hedge funds are holding EMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Embecta Corp. (NASDAQ:EMBC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.