Meros Investment Management LP Purchases 57,312 Shares of Embecta Corp. (NASDAQ:EMBC)

Meros Investment Management LP grew its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247,312 shares of the company's stock after acquiring an additional 57,312 shares during the quarter. Embecta accounts for 2.4% of Meros Investment Management LP's portfolio, 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.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its holdings in shares of Embecta by 41.1% in the third quarter. Barclays PLC now owns 97,930 shares of the company's stock valued at $1,381,000 after purchasing an additional 28,523 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Embecta by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company's stock valued at $2,048,000 after buying an additional 1,600 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Embecta by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 280,004 shares of the company's stock valued at $5,782,000 after acquiring an additional 7,887 shares during the last quarter. Bank of New York Mellon Corp grew its position in Embecta by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after acquiring an additional 4,769 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Embecta in the 4th quarter valued at approximately $209,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Embecta Stock Up 3.1%

NASDAQ:EMBC traded up $0.36 during mid-day trading on Friday, hitting $12.02. 531,298 shares of the stock traded hands, compared to its average volume of 451,508. The stock has a market capitalization of $702.48 million, a price-to-earnings ratio of 12.02, a PEG ratio of 0.78 and a beta of 1.24. Embecta Corp. has a 52 week low of $10.83 and a 52 week high of $21.48. The firm's 50 day moving average is $12.31 and its two-hundred day moving average is $15.67.

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, topping analysts' consensus estimates of $0.66 by $0.04. The firm had revenue of $259.00 million during the quarter, compared to analyst estimates of $261.77 million. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. Embecta's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. As a group, research analysts predict that Embecta Corp. will post 2.85 EPS for the current 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Wednesday, May 28th. Embecta's payout ratio is presently 66.67%.

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.