Milton Mayo Morris Sells 3,100 Shares of Embecta Corp. (NASDAQ:EMBC) Stock

Embecta Corp. (NASDAQ:EMBC) Director Milton Mayo Morris sold 3,100 shares of the firm’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 transaction of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This trade represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Embecta Stock Performance

Shares of EMBC opened at $14.85 on Friday. The company has a 50 day moving average price of $19.22 and a 200-day moving average price of $16.57. Embecta Corp. has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The stock has a market capitalization of $863.23 million, a PE ratio of 14.85, a PEG ratio of 0.95 and a beta of 1.20.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Embecta Corp. will post 2.87 EPS for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 4.04%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Institutional Trading of Embecta

Hedge funds have recently modified their holdings of the company. Rubric Capital Management LP purchased a new position in shares of Embecta in the 3rd quarter worth approximately $15,306,000. William Blair Investment Management LLC purchased a new position in Embecta in the fourth quarter worth $15,270,000. Raymond James Financial Inc. acquired a new position in shares of Embecta during the fourth quarter worth $6,598,000. American Century Companies Inc. lifted its holdings in shares of Embecta by 8.0% during 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. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Embecta during the 4th quarter valued at $4,043,000. 93.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on EMBC. Morgan Stanley upgraded Embecta from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $13.00 to $20.00 in a report on Monday, December 2nd. BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note 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.