Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,840,000 shares, a decline of 8.0% from the August 15th total of 2,000,000 shares. Based on an average daily volume of 410,900 shares, the short-interest ratio is presently 4.5 days. Currently, 3.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Embecta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Embecta by 29.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,288,995 shares of the company’s stock valued at $24,401,000 after buying an additional 296,997 shares in the last quarter. Norges Bank acquired a new position in Embecta in the 4th quarter worth approximately $7,653,000. Trexquant Investment LP purchased a new position in Embecta during the 4th quarter worth approximately $1,074,000. Allianz Asset Management GmbH raised its stake in Embecta by 77.0% during the 4th quarter. Allianz Asset Management GmbH now owns 141,124 shares of the company’s stock valued at $2,671,000 after purchasing an additional 61,400 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in Embecta during the 4th quarter valued at $208,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Analyst Ratings Changes

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

Embecta Price Performance

Embecta stock remained flat at $15.51 during midday trading on Thursday. 5,055 shares of the company’s stock traded hands, compared to its average volume of 414,819. The business’s 50 day simple moving average is $14.91 and its 200-day simple moving average is $13.26. The firm has a market capitalization of $894.46 million, a P/E ratio of 12.82 and a beta of 1.00. Embecta has a 12-month low of $9.93 and a 12-month high of $19.79.

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

Embecta Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s dividend payout ratio is 49.59%.

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.