Short Interest in Embecta Corp. (NASDAQ:EMBC) Declines By 17.0%

Embecta Corp. (NASDAQ:EMBC) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,850,000 shares, a decrease of 17.0% from the February 28th total of 2,230,000 shares. Based on an average daily trading volume, of 535,900 shares, the short-interest ratio is currently 3.5 days. Currently, 3.5% of the shares of the company are short sold.

Embecta Stock Down 1.6 %

Embecta stock traded down $0.21 on Thursday, hitting $12.32. The company’s stock had a trading volume of 58,627 shares, compared to its average volume of 439,694. The company has a fifty day moving average price of $14.90 and a 200-day moving average price of $16.20. The firm has a market cap of $715.92 million, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. Embecta has a one year low of $9.93 and a one year high of $21.48.

Embecta (NASDAQ:EMBC) last posted its quarterly 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%. Analysts anticipate that Embecta will post 2.85 EPS for the current year.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.87%. The ex-dividend date was Friday, February 28th. Embecta’s dividend payout ratio is 60.00%.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.38, for a total value of $50,778.00. Following the completion of the transaction, the director now directly owns 36,133 shares in the company, valued at approximately $591,858.54. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EMBC. Smartleaf Asset Management LLC boosted its stake in shares of Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 774 shares in the last quarter. Quarry LP acquired a new position in Embecta in the third quarter valued at about $30,000. Sterling Capital Management LLC grew its stake in Embecta by 796.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company’s stock worth $35,000 after buying an additional 1,497 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Embecta in the fourth quarter valued at $53,000. Finally, Siemens Fonds Invest GmbH acquired a new position in Embecta during the 4th quarter worth about $77,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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.