319,516 Shares in Embecta Corp. (NASDAQ:EMBC) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Embecta Corp. (NASDAQ:EMBC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 319,516 shares of the company's stock, valued at approximately $6,598,000. Raymond James Financial Inc. owned approximately 0.55% of Embecta as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Garden State Investment Advisory Services LLC purchased a new stake in shares of Embecta during the 3rd quarter valued at approximately $438,000. Barclays PLC increased its stake in 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company's stock worth $19,564,000 after buying an additional 45,228 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Embecta during the 4th quarter worth approximately $209,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Embecta by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company's stock worth $14,155,000 after buying an additional 4,769 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company's stock.

Insider Transactions at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now owns 36,133 shares of the company's stock, valued at $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

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

Embecta Price Performance

NASDAQ:EMBC traded down $0.06 during midday trading on Tuesday, reaching $12.26. The stock had a trading volume of 18,942 shares, compared to its average volume of 454,149. The stock has a market capitalization of $712.72 million, a P/E ratio of 12.23, a PEG ratio of 0.78 and a beta of 1.23. Embecta Corp. has a 1-year low of $10.00 and a 1-year high of $21.48. The firm's fifty day simple moving average is $12.70 and its 200-day simple moving average is $15.85.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. On average, equities research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.89%. Embecta's payout ratio is presently 60.00%.

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.