Gabelli Funds LLC Sells 62,199 Shares of Embecta Corp. $EMBC

Gabelli Funds LLC lowered its position in Embecta Corp. (NASDAQ:EMBC) by 29.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 151,253 shares of the company’s stock after selling 62,199 shares during the period. Gabelli Funds LLC’s holdings in Embecta were worth $2,134,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Embecta by 36.3% during the second quarter. American Century Companies Inc. now owns 5,195,948 shares of the company’s stock worth $50,349,000 after purchasing an additional 1,382,537 shares during the last quarter. River Road Asset Management LLC lifted its position in shares of Embecta by 0.4% during the 2nd quarter. River Road Asset Management LLC now owns 3,240,243 shares of the company’s stock worth $32,921,000 after buying an additional 12,352 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Embecta by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,511,996 shares of the company’s stock worth $14,653,000 after buying an additional 44,822 shares in the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Embecta by 134.3% in the 2nd quarter. Jefferies Financial Group Inc. now owns 1,342,713 shares of the company’s stock worth $13,011,000 after buying an additional 769,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Embecta by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 789,509 shares of the company’s stock valued at $11,140,000 after acquiring an additional 81,218 shares in the last quarter. 93.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EMBC has been the subject of a number of research analyst reports. Wall Street Zen raised Embecta from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Embecta in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Embecta in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.50.

Embecta Trading Down 1.5%

Shares of NASDAQ EMBC opened at $9.09 on Wednesday. The stock has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $12.67. Embecta Corp. has a 1-year low of $8.81 and a 1-year high of $15.55. The firm has a market cap of $538.31 million, a price-to-earnings ratio of 3.84 and a beta of 1.10.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 5th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Embecta had a negative return on equity of 26.66% and a net margin of 12.92%.The firm had revenue of $261.20 million for the quarter, compared to analyst estimates of $258.07 million. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Embecta has set its FY 2026 guidance at 2.800-3.00 EPS. Analysts forecast that Embecta Corp. will post 2.85 EPS for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Friday, February 27th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, February 27th. Embecta’s payout ratio is currently 25.32%.

About Embecta

Embecta Corp (NASDAQ: EMBC) is a pure-play diabetes care company that was spun off from Becton, Dickinson and Company on July 1, 2021. Headquartered in Franklin Lakes, New Jersey, Embecta focuses exclusively on the development, manufacturing and commercialization of products that enable insulin delivery and blood glucose monitoring for people with diabetes.

The company’s product portfolio includes insulin infusion sets, durable and patch pumps, pen needles, infusion tubing, blood glucose test strips, lancets and lancing devices.