Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,370,000 shares, a decline of 5.5% from the January 15th total of 1,450,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily volume of 440,900 shares, the days-to-cover ratio is currently 3.1 days.

Insider Activity at Embecta

In related news, Director Milton Mayo Morris sold 3,100 shares of Embecta stock in a transaction that occurred 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 sale, the director now directly owns 36,133 shares of the company’s stock, valued at approximately $591,858.54. The trade was a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Embecta

Several institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Embecta by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,279 shares of the company’s stock valued at $3,392,000 after buying an additional 23,611 shares during the period. WBI Investments LLC bought a new position in Embecta during the fourth quarter valued at about $247,000. State of Wyoming grew its position in Embecta by 51.8% during the fourth quarter. State of Wyoming now owns 16,479 shares of the company’s stock valued at $340,000 after buying an additional 5,625 shares during the period. Siemens Fonds Invest GmbH bought a new position in Embecta during the fourth quarter valued at about $77,000. Finally, ProShare Advisors LLC grew its position in Embecta by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 17,464 shares of the company’s stock valued at $361,000 after buying an additional 5,376 shares during the period. Institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 1.0 %

Shares of EMBC stock opened at $15.46 on Thursday. The firm has a market capitalization of $898.69 million, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.80 and a beta of 1.20. The firm has a fifty day simple moving average of $18.94 and a two-hundred day simple moving average of $16.57. Embecta has a 12 month low of $9.93 and a 12 month high of $21.48.

Embecta (NASDAQ:EMBC) last posted its earnings results 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, equities analysts predict that Embecta will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 3.88%. Embecta’s payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

EMBC has been the topic of several recent research reports. 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 research report on Wednesday, November 27th. Morgan Stanley upgraded shares of Embecta from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $20.00 in a research report on Monday, December 2nd.

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.