Algert Global LLC Sells 48,912 Shares of Embecta Corp. (NASDAQ:EMBC)

Algert Global LLC reduced its stake in Embecta Corp. (NASDAQ:EMBC) by 31.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,041 shares of the company’s stock after selling 48,912 shares during the quarter. Algert Global LLC’s holdings in Embecta were worth $1,481,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in Embecta by 1,135.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 40,268 shares of the company’s stock valued at $534,000 after acquiring an additional 37,009 shares during the period. Vanguard Group Inc. increased its holdings in shares of Embecta by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after purchasing an additional 187,916 shares during the period. Jennison Associates LLC bought a new position in shares of Embecta during the third quarter worth approximately $594,000. AXA S.A. bought a new position in shares of Embecta during the second quarter worth approximately $1,595,000. Finally, AQR Capital Management LLC increased its holdings in shares of Embecta by 136.2% during the second quarter. AQR Capital Management LLC now owns 614,645 shares of the company’s stock worth $7,683,000 after purchasing an additional 354,454 shares during the period. 93.83% of the stock is owned by institutional investors.

Embecta Trading Up 10.1 %

Shares of EMBC opened at $20.59 on Friday. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $20.80. The firm’s 50 day moving average is $14.48 and its 200-day moving average is $14.11. The stock has a market capitalization of $1.19 billion, a PE ratio of 17.16 and a beta of 0.97.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.91%. Embecta’s dividend payout ratio is 50.00%.

Wall Street Analyst Weigh In

Separately, BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday.

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.