Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,230,000 shares, a growth of 35.2% from the February 13th total of 1,650,000 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily trading volume, of 483,800 shares, the days-to-cover ratio is presently 4.6 days.

Insiders Place Their Bets

In other news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction that occurred on 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 $591,858.54. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

Institutional Trading of Embecta

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Embecta by 175.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock worth $25,000 after purchasing an additional 774 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Embecta by 796.3% in the fourth 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. Quarry LP acquired a new stake in Embecta in the third quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new stake in Embecta in the fourth quarter valued at approximately $53,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in Embecta in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EMBC. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, November 27th. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $20.00 in a report on Monday, December 2nd.

Embecta Trading Down 3.7 %

NASDAQ EMBC traded down $0.51 during trading hours on Tuesday, reaching $13.12. The company had a trading volume of 42,214 shares, compared to its average volume of 416,678. The stock has a 50-day moving average of $16.47 and a 200 day moving average of $16.46. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The stock has a market capitalization of $762.72 million, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. As a group, sell-side analysts predict that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.57%. Embecta’s dividend payout ratio is presently 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.