Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,850,000 shares, a drop of 17.0% from the February 28th total of 2,230,000 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 535,900 shares, the short-interest ratio is presently 3.5 days.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Embecta

A number of hedge funds have recently bought and sold shares of EMBC. Garden State Investment Advisory Services LLC acquired a new stake in shares of Embecta in the 3rd quarter valued at approximately $438,000. Barclays PLC increased its holdings in shares of Embecta by 41.1% during the third quarter. Barclays PLC now owns 97,930 shares of the company’s stock worth $1,381,000 after buying an additional 28,523 shares in the last quarter. Jane Street Group LLC grew its position in Embecta by 156.1% during the 3rd quarter. Jane Street Group LLC now owns 176,487 shares of the company’s stock worth $2,488,000 after acquiring an additional 107,567 shares during the last quarter. Geode Capital Management LLC increased its holdings in Embecta by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after purchasing an additional 45,228 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Embecta in the fourth quarter valued at about $209,000. 93.83% of the stock is owned by institutional investors.

Embecta Stock Performance

Embecta stock traded up $0.30 during midday trading on Tuesday, reaching $13.05. 45,891 shares of the company’s stock were exchanged, compared to its average volume of 439,437. The stock’s 50-day simple moving average is $15.14 and its 200 day simple moving average is $16.25. The firm has a market cap of $758.65 million, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.78 and a beta of 1.27. Embecta has a 52 week low of $9.93 and a 52 week high of $21.48.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 EPS 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%. Research analysts forecast that Embecta will post 2.85 earnings per share for the current year.

Embecta Announces Dividend

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 4.60%. The ex-dividend date of this dividend was Friday, February 28th. Embecta’s dividend payout ratio is presently 60.00%.

Analyst Ratings Changes

Separately, Morgan Stanley raised Embecta from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Company 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.