Embecta Corp. (NASDAQ:EMBC) Short Interest Up 6.5% in September

Embecta Corp. (NASDAQ:EMBC) was the target of a large growth in short interest in the month of 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. Approximately 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 420,000 shares, the short-interest ratio is presently 4.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EMBC. Iat Reinsurance Co. LTD. bought a new position in Embecta in the second quarter worth $50,000. YHB Investment Advisors Inc. purchased a new stake in shares of Embecta in the 1st quarter worth about $56,000. CWM LLC increased its stake in shares of Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares in the last quarter. Cardinal Capital Management purchased a new position in Embecta during the 1st quarter valued at about $134,000. Finally, Capstone Investment Advisors LLC bought a new stake in Embecta during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Up 0.1 %

Shares of EMBC stock traded up $0.01 during trading hours on Tuesday, reaching $14.11. The company’s stock had a trading volume of 323,453 shares, compared to its average volume of 422,694. Embecta has a one year low of $9.93 and a one year high of $19.79. The stock has a market capitalization of $813.72 million, a P/E ratio of 11.74 and a beta of 1.00. The firm’s fifty day simple moving average is $15.14 and its 200 day simple moving average is $13.32.

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

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.15 per share. 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 dividend payout ratio (DPR) is 49.59%.

Analyst Upgrades and Downgrades

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

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.