State of Tennessee Department of Treasury Cuts Stock Position in Embecta Corp. (NASDAQ:EMBC)

State of Tennessee Department of Treasury lessened its holdings in Embecta Corp. (NASDAQ:EMBC) by 17.5% during the 4th quarter, HoldingsChannel reports. The firm owned 40,734 shares of the company’s stock after selling 8,637 shares during the period. State of Tennessee Department of Treasury’s holdings in Embecta were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of Embecta by 111.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,284 shares of the company’s stock worth $150,000 after buying an additional 3,835 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Embecta by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 566,993 shares of the company’s stock worth $11,708,000 after acquiring an additional 73,165 shares during the last quarter. Walleye Capital LLC purchased a new stake in Embecta during the fourth quarter valued at approximately $3,459,000. XTX Topco Ltd bought a new stake in shares of Embecta in the 4th quarter valued at approximately $630,000. Finally, Mariner LLC lifted its stake in shares of Embecta by 21.6% in the 4th quarter. Mariner LLC now owns 20,018 shares of the company’s stock valued at $413,000 after purchasing an additional 3,553 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 3.7 %

Shares of NASDAQ:EMBC opened at $12.73 on Friday. The company has a market capitalization of $740.05 million, a price-to-earnings ratio of 12.73, a PEG ratio of 0.78 and a beta of 1.23. Embecta Corp. has a 12 month low of $10.12 and a 12 month high of $21.48. The firm’s 50-day moving average is $12.53 and its 200 day moving average is $15.78.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, equities analysts forecast that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, February 28th. Embecta’s dividend payout ratio is currently 60.00%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

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.