Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 58.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,894 shares of the company's stock after selling 151,516 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.19% of Embecta worth $2,269,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 774 shares during the period. Victory Capital Management Inc. increased its position in shares of Embecta by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock valued at $361,000 after acquiring an additional 923 shares during the period. Inspire Advisors LLC raised its stake in Embecta by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after buying an additional 1,138 shares in the last quarter. Sterling Capital Management LLC lifted 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 valued at $35,000 after purchasing an additional 1,497 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Embecta by 13.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock valued at $282,000 after buying an additional 1,597 shares during the period. 93.83% of the stock is currently owned by institutional investors.

Embecta Stock Performance

Shares of EMBC traded up $0.10 during midday trading on Wednesday, hitting $12.39. 140,535 shares of the company traded hands, compared to its average volume of 452,924. The firm has a 50 day moving average of $12.26 and a 200-day moving average of $15.65. Embecta Corp. has a 52 week low of $10.83 and a 52 week high of $21.48. The stock has a market cap of $724.11 million, a price-to-earnings ratio of 12.40, a PEG ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. During the same period last year, the company earned $0.67 EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.84%. Embecta's dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Separately, Mizuho initiated coverage on shares of Embecta in a research note on Thursday, April 10th. They issued a "neutral" rating and a $15.00 target price on the stock.

Embecta 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.