River Road Asset Management LLC Sells 106,418 Shares of Embecta Corp. (NASDAQ:EMBC)

River Road Asset Management LLC lessened its holdings in Embecta Corp. (NASDAQ:EMBC) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,477,272 shares of the company’s stock after selling 106,418 shares during the quarter. River Road Asset Management LLC owned 0.06% of Embecta worth $49,030,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EMBC. CWM LLC lifted its stake in Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after acquiring an additional 1,023 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Embecta by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after purchasing an additional 1,025 shares during the period. SummerHaven Investment Management LLC increased its position in Embecta by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock worth $452,000 after buying an additional 1,179 shares during the last quarter. Inspire Advisors LLC increased its position in Embecta by 12.1% during the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after buying an additional 1,334 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its position in shares of Embecta by 13.3% in the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their price target on Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, July 15th.

Embecta Stock Performance

Shares of EMBC stock opened at $14.54 on Tuesday. The company has a market capitalization of $838.96 million, a price-to-earnings ratio of 12.12 and a beta of 0.97. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $19.79. The company has a 50-day simple moving average of $14.63 and a 200 day simple moving average of $13.60.

Embecta (NASDAQ:EMBC) last released its quarterly earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.46 by $0.28. Embecta had a net margin of 6.23% and a negative return on equity of 19.09%. The business had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. During the same period in the prior year, the company posted $0.69 earnings per share. Embecta’s revenue was down 4.8% compared to the same quarter last year. Sell-side analysts forecast that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.13%. Embecta’s payout ratio is 50.00%.

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.