Los Angeles Capital Management LLC Sells 6,621 Shares of Embecta Corp. (NASDAQ:EMBC)

Los Angeles Capital Management LLC reduced its position in shares of Embecta Corp. (NASDAQ:EMBC) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,494 shares of the company’s stock after selling 6,621 shares during the period. Los Angeles Capital Management LLC owned approximately 0.10% of Embecta worth $1,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMBC. Quarry LP bought a new position in shares of Embecta in the 3rd quarter valued at $30,000. Intech Investment Management LLC acquired a new stake in Embecta in the third quarter valued at about $211,000. Wilmington Savings Fund Society FSB bought a new position in Embecta in the third quarter valued at about $217,000. Quest Partners LLC acquired a new position in Embecta during the third quarter worth about $239,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Embecta by 45.3% in the third quarter. Verition Fund Management LLC now owns 17,682 shares of the company’s stock worth $249,000 after acquiring an additional 5,511 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.

Embecta Trading Up 0.7 %

Embecta stock opened at $13.50 on Friday. The stock has a 50-day moving average price of $18.08 and a two-hundred day moving average price of $16.52. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $21.48. The company has a market capitalization of $784.81 million, a PE ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share (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%. As a group, analysts predict that Embecta Corp. will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.44%. Embecta’s dividend payout ratio is 60.00%.

Insider Activity at Embecta

In related 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 value of $50,778.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.