Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC - Get Free Report) was the target of a significant growth in short interest in 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 company's shares are short sold. Based on an average daily trading volume, of 483,800 shares, the short-interest ratio is presently 4.6 days.

Insider Activity at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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Embecta Trading Down 2.9 %

Shares of EMBC stock traded down $0.40 during trading hours on Thursday, hitting $13.23. 522,036 shares of the company were exchanged, compared to its average volume of 418,944. The business has a 50 day moving average of $16.22 and a two-hundred day moving average of $16.42. Embecta has a 52 week low of $9.93 and a 52 week high of $21.48. The company has a market capitalization of $769.11 million, a PE ratio of 13.23, a PEG ratio of 0.78 and a beta of 1.27.

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

Embecta Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Friday, February 28th. Embecta's dividend payout ratio (DPR) is currently 60.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EMBC. Morgan Stanley upgraded shares of Embecta from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $13.00 to $20.00 in a report on Monday, December 2nd. BTIG Research upgraded shares of Embecta from a "neutral" rating to a "buy" rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th.

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.