Embecta Corp. (NASDAQ:EMBC) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $13.00 to $20.00 in a research note on Monday, December 2nd.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Embecta

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Embecta by 175.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after buying an additional 774 shares during the period. Quarry LP acquired a new stake in shares of Embecta during the third quarter worth $30,000. Sterling Capital Management LLC lifted its position in Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock valued at $35,000 after acquiring an additional 1,497 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Embecta in the 4th quarter worth $53,000. Finally, Siemens Fonds Invest GmbH bought a new position in Embecta during the 4th quarter worth about $77,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Stock Performance

Shares of NASDAQ EMBC traded up $0.30 during midday trading on Tuesday, reaching $13.05. 45,891 shares of the company traded hands, 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. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48. The firm has a market cap of $758.65 million, a PE ratio of 13.07, a PEG ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. On average, equities research analysts expect that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, February 28th. Embecta’s payout ratio is 60.00%.

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.