Short Interest in Embecta Corp. (NASDAQ:EMBC) Increases By 7.3%

Embecta Corp. (NASDAQ:EMBC) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,930,000 shares, a growth of 7.3% from the June 30th total of 2,730,000 shares. Based on an average daily volume of 443,900 shares, the short-interest ratio is presently 6.6 days. Currently, 5.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Embecta

A number of large investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its holdings in Embecta by 1.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 34,483 shares of the company’s stock worth $653,000 after acquiring an additional 629 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Embecta by 42.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,259 shares of the company’s stock valued at $62,000 after purchasing an additional 975 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Embecta by 12.1% during the 1st quarter. Inspire Advisors LLC now owns 12,341 shares of the company’s stock valued at $164,000 after purchasing an additional 1,334 shares in the last quarter. Bayesian Capital Management LP boosted its stake in shares of Embecta by 13.3% during the 1st quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Cardinal Capital Management boosted its stake in shares of Embecta by 16.8% during the 2nd quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock valued at $147,000 after purchasing an additional 1,691 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.

Embecta Trading Down 4.3 %

Shares of EMBC stock traded down $0.68 during trading on Thursday, reaching $14.99. 153,991 shares of the company’s stock traded hands, compared to its average volume of 424,307. The company has a market capitalization of $864.47 million, a P/E ratio of 12.44 and a beta of 0.99. The firm’s 50-day moving average is $13.10 and its 200 day moving average is $13.49. Embecta has a 1 year low of $9.93 and a 1 year high of $23.75.

Embecta (NASDAQ:EMBC) last posted its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.24. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $264.70 million. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. As a group, sell-side analysts predict that Embecta will post 2.29 earnings per share for the current fiscal year.

Embecta Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, May 24th. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Wall Street Analysts Forecast Growth

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

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.