Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,220,000 shares, a decline of 5.4% from the November 15th total of 1,290,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 388,100 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Embecta by 11.3% during the third quarter. CWM LLC now owns 10,102 shares of the company’s stock valued at $142,000 after buying an additional 1,023 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Embecta by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after buying an additional 1,025 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Embecta by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after buying an additional 1,179 shares in the last quarter. Ceera Investments LLC lifted its position in Embecta by 0.9% during the second quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after buying an additional 1,514 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Embecta by 5.7% during the third quarter. Natixis Advisors LLC now owns 30,735 shares of the company’s stock valued at $433,000 after buying an additional 1,648 shares in the last quarter. 93.83% of the stock is owned by institutional investors and hedge funds.

Embecta Stock Performance

EMBC opened at $19.99 on Tuesday. The company’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $14.71. Embecta has a 1 year low of $9.93 and a 1 year high of $21.48. The stock has a market capitalization of $1.16 billion, a PE ratio of 14.81, a P/E/G ratio of 1.08 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last released its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The business had revenue of $286.10 million for the quarter, compared to analysts’ expectations of $276.97 million. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Embecta will post 2.84 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 3.00%. Embecta’s dividend payout ratio (DPR) is 44.44%.

Analyst Ratings Changes

EMBC has been the subject of a number of recent research reports. BTIG Research upgraded shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target 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 raised their target price for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd.

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.