Jacobs Levy Equity Management Inc. Buys 313,951 Shares of Embecta Corp. (NASDAQ:EMBC)

Jacobs Levy Equity Management Inc. raised its holdings in Embecta Corp. (NASDAQ:EMBC) by 95.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 643,230 shares of the company’s stock after buying an additional 313,951 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.12% of Embecta worth $8,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management lifted its stake in shares of Embecta by 205.6% in the first quarter. LSV Asset Management now owns 110,700 shares of the company’s stock valued at $1,469,000 after buying an additional 74,480 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Embecta by 77.0% during the fourth quarter. Allianz Asset Management GmbH now owns 141,124 shares of the company’s stock worth $2,671,000 after buying an additional 61,400 shares during the last quarter. Sei Investments Co. increased its holdings in Embecta by 15.9% during the first quarter. Sei Investments Co. now owns 362,111 shares of the company’s stock worth $4,805,000 after buying an additional 49,551 shares during the last quarter. Yacktman Asset Management LP increased its holdings in Embecta by 0.8% during the fourth quarter. Yacktman Asset Management LP now owns 2,671,237 shares of the company’s stock worth $50,567,000 after buying an additional 20,296 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Embecta by 29.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,288,995 shares of the company’s stock worth $24,401,000 after buying an additional 296,997 shares during the last quarter. 93.83% of the stock is owned by institutional investors.

Embecta Stock Up 0.4 %

NASDAQ EMBC traded up $0.07 during trading hours on Tuesday, reaching $15.75. 346,916 shares of the company were exchanged, compared to its average volume of 426,628. The stock has a market capitalization of $908.30 million, a P/E ratio of 13.17 and a beta of 0.99. The business’s 50 day simple moving average is $13.02 and its 200-day simple moving average is $13.48. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $23.75.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.24. The firm had revenue of $287.20 million during the quarter, compared to the consensus estimate of $264.70 million. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Embecta Corp. will post 2.29 earnings per share for the current year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.60 annualized dividend and a dividend yield of 3.81%. Embecta’s payout ratio is 49.59%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Monday, July 15th.

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.