Short Interest in Embecta Corp. (NASDAQ:EMBC) Decreases By 5.4%

Embecta Corp. (NASDAQ:EMBC) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 1,220,000 shares, a decrease of 5.4% from the November 15th total of 1,290,000 shares. Based on an average trading volume of 388,100 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts have commented on EMBC shares. Morgan Stanley raised 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. BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Wednesday, November 27th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Garden State Investment Advisory Services LLC purchased a new stake in Embecta in the 3rd quarter worth about $438,000. Jennison Associates LLC purchased a new position in shares of Embecta in the third quarter worth about $594,000. Rubric Capital Management LP bought a new stake in shares of Embecta in the third quarter valued at approximately $15,306,000. Algert Global LLC lifted its stake in shares of Embecta by 281.8% during the 2nd quarter. Algert Global LLC now owns 153,953 shares of the company’s stock valued at $1,924,000 after buying an additional 113,633 shares in the last quarter. Finally, AXA S.A. bought a new position in Embecta in the 2nd quarter worth approximately $1,595,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Stock Performance

EMBC opened at $19.92 on Thursday. Embecta has a fifty-two week low of $9.93 and a fifty-two week high of $21.48. The firm has a 50-day moving average of $16.08 and a 200 day moving average of $14.77. The firm has a market cap of $1.16 billion, a P/E ratio of 14.76, a PEG ratio of 1.08 and a beta of 1.25.

Embecta (NASDAQ:EMBC) last released its earnings results on Tuesday, November 26th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Embecta had a net margin of 6.97% and a negative return on equity of 18.54%. The firm had revenue of $286.10 million for the quarter, compared to analysts’ expectations of $276.97 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Embecta will post 2.84 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, December 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, December 6th. Embecta’s dividend payout ratio is currently 44.44%.

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.