Embecta Corp. (NASDAQ:EMBC) Short Interest Down 17.0% in March

Embecta Corp. (NASDAQ:EMBC - Get Free Report) saw a large decline in short interest in the month of 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. Based on an average daily volume of 535,900 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.5% of the company's shares are short sold.

Embecta Trading Down 3.0 %

Embecta stock traded down $0.37 during midday trading on Friday, reaching $12.00. The stock had a trading volume of 1,414,450 shares, compared to its average volume of 446,183. The company has a fifty day moving average price of $14.62 and a two-hundred day moving average price of $16.14. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48. The company has a market capitalization of $697.61 million, a P/E ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. On average, equities research analysts predict that Embecta will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The firm also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, February 28th. Embecta's payout ratio is presently 60.00%.

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Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction 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 transaction, the director now directly owns 36,133 shares of the company's stock, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Embecta

Several large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted 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 valued at $25,000 after buying an additional 774 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Embecta by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock worth $361,000 after acquiring an additional 923 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock worth $667,000 after acquiring an additional 1,138 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Embecta by 796.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Embecta by 13.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,639 shares of the company's stock valued at $282,000 after purchasing an additional 1,597 shares during the last quarter. Institutional investors own 93.83% of the company's stock.

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.