Embecta Corp. (NASDAQ:EMBC) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in shares of Embecta Corp. (NASDAQ:EMBC) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,012 shares of the company’s stock after selling 3,140 shares during the period. Jennison Associates LLC owned 0.07% of Embecta worth $806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Embecta by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 145,269 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,600 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of Embecta during the third quarter worth $438,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Embecta during the third quarter worth $217,000. Barclays PLC grew its stake in shares of Embecta by 41.1% during the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after purchasing an additional 28,523 shares in the last quarter. Finally, Meros Investment Management LP acquired a new position in shares of Embecta during the third quarter worth $2,679,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Price Performance

NASDAQ EMBC opened at $17.73 on Friday. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $21.48. The company has a market capitalization of $1.03 billion, a PE ratio of 13.13, a P/E/G ratio of 0.97 and a beta of 1.20. The company has a fifty day moving average of $19.70 and a two-hundred day moving average of $16.52.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. On average, research analysts expect that Embecta Corp. will post 2.84 earnings per share for the current year.

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, December 6th were issued a $0.15 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.38%. Embecta’s payout ratio is 44.44%.

Analyst Ratings Changes

EMBC has been the subject of a number of analyst reports. Morgan Stanley upgraded 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. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, November 27th.

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.