Allspring Global Investments Holdings LLC Cuts Position in Embecta Corp. (NASDAQ:EMBC)

Allspring Global Investments Holdings LLC decreased its position in Embecta Corp. (NASDAQ:EMBC) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,486 shares of the company’s stock after selling 13,351 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Embecta worth $710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EMBC. National Bank of Canada FI raised its position in Embecta by 187.9% in the third quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $44,000 after purchasing an additional 1,811 shares during the period. SG Americas Securities LLC purchased a new stake in Embecta in the third quarter valued at approximately $450,000. Denali Advisors LLC increased its position in shares of Embecta by 192.6% during the third quarter. Denali Advisors LLC now owns 92,249 shares of the company’s stock worth $1,388,000 after acquiring an additional 60,723 shares during the period. Cavalier Investments LLC increased its position in shares of Embecta by 3.8% during the third quarter. Cavalier Investments LLC now owns 23,012 shares of the company’s stock worth $346,000 after acquiring an additional 839 shares during the period. Finally, Raymond James & Associates increased its position in shares of Embecta by 1,129.2% during the third quarter. Raymond James & Associates now owns 160,793 shares of the company’s stock worth $2,420,000 after acquiring an additional 147,712 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 0.1 %

Embecta stock opened at $10.89 on Thursday. Embecta Corp. has a twelve month low of $9.93 and a twelve month high of $32.00. The stock’s fifty day simple moving average is $12.97 and its 200-day simple moving average is $15.52. The firm has a market capitalization of $627.05 million, a P/E ratio of 11.37 and a beta of 0.73.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The business had revenue of $277.30 million for the quarter, compared to analyst estimates of $264.92 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Sell-side analysts predict that Embecta Corp. will post 2.14 earnings per share for the current year.

Embecta Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Tuesday, February 27th. Embecta’s dividend payout ratio is currently 63.16%.

Insider Transactions at Embecta

In other news, Director David F. Melcher bought 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $16.25 per share, for a total transaction of $32,500.00. Following the completion of the purchase, the director now owns 45,080 shares in the company, valued at approximately $732,550. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.28% of the company’s stock.

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.