Meros Investment Management LP Has $5.11 Million Stock Position in Embecta Corp. (NASDAQ:EMBC)

Meros Investment Management LP increased its position in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 247,312 shares of the company's stock after acquiring an additional 57,312 shares during the quarter. Embecta makes up approximately 2.4% of Meros Investment Management LP's holdings, making the stock its 21st biggest holding. Meros Investment Management LP owned approximately 0.43% of Embecta worth $5,107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings 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 valued at $25,000 after purchasing an additional 774 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Embecta by 796.3% during the 4th 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 in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Embecta by 111.2% during the 4th 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in Embecta during the 4th quarter worth $156,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Embecta during the 4th quarter worth $209,000. Institutional investors and hedge funds own 93.83% of the company's stock.

Embecta Trading Up 3.1%

Shares of NASDAQ EMBC traded up $0.36 during midday trading on Friday, reaching $12.02. The company's stock had a trading volume of 531,298 shares, compared to its average volume of 451,784. The company has a 50 day moving average price of $12.31 and a 200 day moving average price of $15.68. Embecta Corp. has a one year low of $10.83 and a one year high of $21.48. The company has a market cap of $702.48 million, a price-to-earnings ratio of 12.02, 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 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The business had revenue of $259.00 million for the quarter, compared to the consensus estimate of $261.77 million. During the same period in the previous year, the firm earned $0.67 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm 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 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is 66.67%.

Wall Street Analyst Weigh In

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