Renaissance Technologies LLC Purchases 23,748 Shares of Embecta Corp. (NASDAQ:EMBC)

Renaissance Technologies LLC boosted its position in Embecta Corp. (NASDAQ:EMBC - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,848 shares of the company's stock after purchasing an additional 23,748 shares during the period. Renaissance Technologies LLC owned about 0.12% of Embecta worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC purchased a new position in shares of Embecta during the 4th quarter valued at $15,270,000. Raymond James Financial Inc. bought a new stake in Embecta in the 4th quarter valued at about $6,598,000. American Century Companies Inc. lifted its holdings in Embecta by 8.0% during the fourth quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock valued at $67,359,000 after purchasing an additional 242,668 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in Embecta during the fourth quarter worth about $4,043,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Embecta by 121.1% in the fourth quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company's stock worth $6,631,000 after purchasing an additional 175,857 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Insider Transactions at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the 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 transaction, the director now owns 36,133 shares of the company's stock, valued at $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Mizuho started coverage on shares of Embecta in a report on Thursday, April 10th. They issued a "neutral" rating and a $15.00 price objective for the company.

Embecta Stock Up 0.7 %

EMBC traded up $0.09 during trading on Thursday, reaching $12.28. 314,086 shares of the company were exchanged, compared to its average volume of 455,877. Embecta Corp. has a 12-month low of $10.00 and a 12-month high of $21.48. The company's 50-day moving average is $12.60 and its two-hundred day moving average is $15.82. The company has a market cap of $713.89 million, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given 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 dividend payout ratio (DPR) is currently 60.00%.

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.