Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 1,610,000 shares, a drop of 17.9% from the September 15th total of 1,960,000 shares. Based on an average daily trading volume, of 412,100 shares, the short-interest ratio is presently 3.9 days. Approximately 3.0% of the shares of the stock are short sold.

Embecta Trading Up 2.8 %

Shares of NASDAQ:EMBC traded up $0.35 on Friday, reaching $12.82. 673,509 shares of the company traded hands, compared to its average volume of 420,855. Embecta has a 52 week low of $9.93 and a 52 week high of $19.79. The business’s 50-day simple moving average is $14.71 and its 200 day simple moving average is $13.35. The stock has a market capitalization of $739.33 million, a P/E ratio of 10.60 and a beta of 0.98.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.28. The business had revenue of $272.50 million for the quarter, compared to analysts’ expectations of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Sell-side analysts expect that Embecta will post 2.43 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 4.68%. Embecta’s payout ratio is currently 49.59%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Embecta

Hedge funds have recently modified their holdings of the company. Iat Reinsurance Co. LTD. purchased a new position in Embecta during the 2nd quarter valued at about $50,000. CWM LLC lifted its stake in Embecta by 773.8% in the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares during the period. Cardinal Capital Management bought a new stake in Embecta in the first quarter valued at $134,000. Canada Pension Plan Investment Board purchased a new position in Embecta during the 2nd quarter valued at $140,000. Finally, Inspire Advisors LLC raised its holdings in Embecta by 12.1% in the 1st quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock worth $164,000 after purchasing an additional 1,334 shares in the last quarter. Hedge funds and other 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.