Charles Schwab Investment Management Inc. Reduces Position in Embecta Corp. (NASDAQ:EMBC)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 18.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 782,190 shares of the company’s stock after selling 180,834 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Embecta were worth $16,152,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in shares of Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after buying an additional 774 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Embecta during the fourth quarter valued at approximately $209,000. Bank of New York Mellon Corp boosted its position in shares of Embecta by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 685,493 shares of the company’s stock valued at $14,155,000 after buying an additional 4,769 shares during the period. Principal Financial Group Inc. boosted its position in shares of Embecta by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 280,004 shares of the company’s stock valued at $5,782,000 after buying an additional 7,887 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Embecta by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company’s stock valued at $2,048,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Milton Mayo Morris sold 3,100 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Embecta Stock Performance

Shares of NASDAQ EMBC opened at $13.23 on Friday. The firm has a market capitalization of $769.11 million, a price-to-earnings ratio of 13.23, a PEG ratio of 0.78 and a beta of 1.27. The stock has a 50 day moving average price of $16.08 and a 200 day moving average price of $16.40. Embecta Corp. has a 52-week low of $9.93 and a 52-week high of $21.48.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results 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 negative return on equity of 19.22% and a net margin of 5.25%. Analysts forecast that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.15 dividend. 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 4.54%. Embecta’s payout ratio is 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.