Embecta Corp. (NASDAQ:EMBC) Short Interest Update

Embecta Corp. (NASDAQ:EMBC) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,370,000 shares, a decrease of 5.5% from the January 15th total of 1,450,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 440,900 shares, the days-to-cover ratio is presently 3.1 days.

Insider Buying and Selling at Embecta

In other Embecta news, Director Milton Mayo Morris sold 3,100 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $16.38, for a total transaction of $50,778.00. Following the transaction, the director now directly owns 36,133 shares in the company, valued at $591,858.54. This represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by insiders.

Institutional Trading of Embecta

A number of large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Embecta by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 164,279 shares of the company’s stock worth $3,392,000 after acquiring an additional 23,611 shares during the period. WBI Investments LLC bought a new position in Embecta in the 4th quarter valued at about $247,000. State of Wyoming grew its position in Embecta by 51.8% in the 4th quarter. State of Wyoming now owns 16,479 shares of the company’s stock valued at $340,000 after buying an additional 5,625 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in Embecta in the 4th quarter valued at about $77,000. Finally, ProShare Advisors LLC grew its position in Embecta by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 17,464 shares of the company’s stock valued at $361,000 after buying an additional 5,376 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Performance

Shares of NASDAQ:EMBC opened at $15.30 on Wednesday. The stock has a market capitalization of $889.39 million, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20. Embecta has a 1-year low of $9.93 and a 1-year high of $21.48. The company’s fifty day moving average is $19.12 and its two-hundred day moving average is $16.57.

Embecta (NASDAQ:EMBC) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.20. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. Sell-side analysts expect that Embecta will post 2.87 EPS for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.92%. Embecta’s dividend payout ratio (DPR) is presently 60.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of Embecta from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $20.00 in a report on Monday, December 2nd. BTIG Research raised shares of Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, November 27th.

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.