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

Embecta Corp. (NASDAQ:EMBC) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,850,000 shares, a decrease of 17.0% from the February 28th total of 2,230,000 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 535,900 shares, the short-interest ratio is presently 3.5 days.

Insiders Place Their Bets

In other news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This trade 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 is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew 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 worth $25,000 after acquiring an additional 774 shares during the last quarter. Quarry LP purchased a new position in Embecta during the 3rd quarter worth $30,000. Sterling Capital Management LLC increased 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 purchasing an additional 1,497 shares during the period. Ameriflex Group Inc. acquired a new position in Embecta in the fourth quarter valued at $53,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in shares of Embecta during the fourth quarter worth about $77,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Down 0.4 %

NASDAQ EMBC traded down $0.05 during trading hours on Wednesday, hitting $12.58. 151,143 shares of the company were exchanged, compared to its average volume of 440,124. The company has a 50 day moving average of $15.02 and a two-hundred day moving average of $16.23. The firm has a market cap of $731.33 million, a price-to-earnings ratio of 12.58, a PEG ratio of 0.78 and a beta of 1.27. Embecta has a 52-week low of $9.93 and a 52-week high of $21.48.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data 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 net margin of 5.25% and a negative return on equity of 19.22%. On average, equities research analysts predict that Embecta will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.77%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

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.