Legal & General Group Plc Sells 5,171 Shares of Embecta Corp. (NASDAQ:EMBC)

Legal & General Group Plc trimmed its holdings in Embecta Corp. (NASDAQ:EMBC) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 149,667 shares of the company’s stock after selling 5,171 shares during the quarter. Legal & General Group Plc’s holdings in Embecta were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in shares of Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Embecta during the 4th quarter valued at about $209,000. KLP Kapitalforvaltning AS bought a new stake in shares of Embecta during the fourth quarter valued at about $215,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Embecta in the third quarter worth about $217,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Embecta by 13.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company’s stock valued at $282,000 after acquiring an additional 1,597 shares during the period. Institutional investors own 93.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Mizuho initiated coverage on shares of Embecta in a report on Thursday, April 10th. They set a “neutral” rating and a $15.00 target price on the stock.

Embecta Stock Up 0.2 %

Embecta stock opened at $11.24 on Thursday. The business has a 50-day simple moving average of $12.83 and a 200 day simple moving average of $15.83. Embecta Corp. has a 52 week low of $10.00 and a 52 week high of $21.48. The stock has a market cap of $653.43 million, a price-to-earnings ratio of 11.24, a PEG ratio of 0.78 and a beta of 1.23.

Embecta (NASDAQ:EMBC) last announced its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. On average, research analysts anticipate that Embecta Corp. will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.15 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 5.34%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Insider Activity at Embecta

In other news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

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.