Embecta Corp. (NASDAQ:EMBC) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 406,288 shares of the company’s stock after purchasing an additional 19,725 shares during the quarter. Sei Investments Co.’s holdings in Embecta were worth $8,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC acquired a new stake in shares of Embecta during the 4th quarter worth approximately $15,270,000. Raymond James Financial Inc. purchased a new stake in Embecta in the fourth quarter valued at $6,598,000. American Century Companies Inc. lifted its stake in shares of Embecta by 8.0% in the 4th 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. Meros Investment Management LP purchased a new position in shares of Embecta during the 3rd quarter worth $2,679,000. Finally, Jane Street Group LLC increased its position in shares of Embecta by 156.1% during the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after purchasing an additional 107,567 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Down 1.2 %

Shares of EMBC opened at $12.28 on Monday. The company has a market cap of $713.89 million, a P/E ratio of 12.28, a PEG ratio of 0.78 and a beta of 1.27. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The firm’s 50 day moving average price is $15.26 and its 200 day moving average price is $16.27.

Embecta (NASDAQ:EMBC) last posted 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%. Research analysts forecast 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. Investors of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.89%. The ex-dividend date was Friday, February 28th. Embecta’s payout ratio is 60.00%.

Insider Activity at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the business’s 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 completion of the sale, the director now owns 36,133 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and increased 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.