Short Interest in Embecta Corp. (NASDAQ:EMBC) Grows By 6.5%

Embecta Corp. (NASDAQ:EMBC) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,960,000 shares, an increase of 6.5% from the August 31st total of 1,840,000 shares. Based on an average daily trading volume, of 420,000 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.6% of the shares of the stock are sold short.

Embecta Stock Up 0.1 %

NASDAQ:EMBC traded up $0.01 during trading hours on Tuesday, hitting $14.11. 323,453 shares of the company’s stock traded hands, compared to its average volume of 422,694. Embecta has a 52 week low of $9.93 and a 52 week high of $19.79. The business’s fifty day simple moving average is $15.14 and its two-hundred day simple moving average is $13.32. The firm has a market cap of $813.72 million, a P/E ratio of 11.74 and a beta of 1.00.

Embecta (NASDAQ:EMBC) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.46 by $0.28. The company had revenue of $272.50 million during 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%. Embecta’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, analysts expect that Embecta will post 2.43 EPS for the current year.

Embecta Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 4.25%. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their price objective on shares of Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, July 15th.

Institutional Investors Weigh In On Embecta

A number of large investors have recently added to or reduced their stakes in the company. Iat Reinsurance Co. LTD. bought a new position in shares of Embecta during the 2nd quarter valued at about $50,000. YHB Investment Advisors Inc. bought a new stake in shares of Embecta in the 1st quarter worth approximately $56,000. CWM LLC boosted its stake in shares of Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after purchasing an additional 8,040 shares in the last quarter. Cardinal Capital Management purchased a new position in Embecta in the 1st quarter worth $134,000. Finally, Capstone Investment Advisors LLC bought a new stake in Embecta in the fourth quarter worth $208,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.