First Eagle Investment Management LLC Has $7.88 Million Position in Embecta Corp. (NASDAQ:EMBC)

First Eagle Investment Management LLC lowered its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,494 shares of the company’s stock after selling 11,500 shares during the quarter. First Eagle Investment Management LLC owned 0.66% of Embecta worth $7,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EMBC. Rubric Capital Management LP acquired a new stake in Embecta in the 3rd quarter valued at approximately $15,306,000. Raymond James Financial Inc. acquired a new stake in Embecta in the 4th quarter valued at approximately $6,598,000. Meros Investment Management LP acquired a new stake in Embecta in the 3rd quarter valued at approximately $2,679,000. Jane Street Group LLC raised its position in Embecta by 156.1% in the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock valued at $2,488,000 after buying an additional 107,567 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Embecta in the 3rd quarter valued at approximately $1,485,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Up 1.2 %

NASDAQ:EMBC opened at $13.15 on Friday. The firm has a market capitalization of $764.46 million, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $21.48. The stock’s 50 day moving average price is $16.62 and its two-hundred day moving average price is $16.46.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.56%. Embecta’s dividend payout ratio is currently 60.00%.

Insider Transactions at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total transaction of $50,778.00. Following the completion of the transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $13.00 to $20.00 in a research report on Monday, December 2nd. BTIG Research raised Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, November 27th.

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.