Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,840,000 shares, a drop of 8.0% from the August 15th total of 2,000,000 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 410,900 shares, the short-interest ratio is presently 4.5 days.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their target price on Embecta from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Monday, July 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning bought a new stake in shares of Embecta during the 2nd quarter worth about $454,000. Algert Global LLC increased its stake in shares of Embecta by 281.8% during the second quarter. Algert Global LLC now owns 153,953 shares of the company’s stock valued at $1,924,000 after acquiring an additional 113,633 shares during the period. Mackenzie Financial Corp raised its holdings in Embecta by 40.4% during the second quarter. Mackenzie Financial Corp now owns 45,996 shares of the company’s stock worth $575,000 after purchasing an additional 13,225 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Embecta by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock worth $278,000 after purchasing an additional 1,025 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Embecta during the 2nd quarter valued at $201,000. Institutional investors own 93.83% of the company’s stock.

Embecta Stock Down 6.0 %

Shares of NASDAQ:EMBC traded down $0.99 during trading on Wednesday, hitting $15.51. 339,897 shares of the company traded hands, compared to its average volume of 417,096. The business’s fifty day moving average is $14.84 and its 200-day moving average is $13.25. The stock has a market capitalization of $894.46 million, a price-to-earnings ratio of 13.64 and a beta of 1.00. Embecta has a one year low of $9.93 and a one year high of $19.79.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.28. The firm had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, analysts forecast that Embecta will post 2.43 EPS for the current year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 3.87%. Embecta’s dividend payout ratio is presently 49.59%.

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.