Embecta Corp. (NASDAQ:EMBC) Sees Large Increase in Short Interest

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

Embecta Stock Up 0.1 %

Shares of Embecta stock opened at $14.11 on Wednesday. The business has a 50-day moving average price of $15.14 and a 200 day moving average price of $13.32. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $19.79. The firm has a market cap of $813.72 million, a P/E ratio of 11.66 and a beta of 1.00.

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

Embecta Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.25%. Embecta’s payout ratio is currently 49.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EMBC. Iat Reinsurance Co. LTD. bought a new position in Embecta in the second quarter worth 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 position in Embecta by 773.8% during 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 during the period. Cardinal Capital Management bought a new position in Embecta during the 1st quarter worth $134,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Embecta in the second quarter worth $140,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.