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 in 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. Currently, 3.5% of the shares of the stock are short sold. Based on an average trading volume of 535,900 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity

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

Institutional Investors Weigh In On Embecta

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Embecta by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,025,483 shares of the company’s stock valued at $145,076,000 after buying an additional 28,031 shares during the period. Deerfield Management Company L.P. Series C raised its position in Embecta by 19.8% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,270,535 shares of the company’s stock valued at $67,537,000 after acquiring an additional 540,192 shares in the last quarter. American Century Companies Inc. lifted its stake in Embecta by 8.0% in the fourth quarter. American Century Companies Inc. now owns 3,261,934 shares of the company’s stock valued at $67,359,000 after acquiring an additional 242,668 shares during the last quarter. Geode Capital Management LLC grew its position in Embecta by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,387,273 shares of the company’s stock worth $19,564,000 after acquiring an additional 45,228 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Embecta during the 4th quarter worth $15,270,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Down 1.6 %

Shares of NASDAQ EMBC traded down $0.21 during trading on Thursday, reaching $12.32. 58,627 shares of the stock were exchanged, compared to its average volume of 439,694. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $16.20. Embecta has a twelve month low of $9.93 and a twelve month high of $21.48. The company has a market capitalization of $715.92 million, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27.

Embecta (NASDAQ:EMBC) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.20. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. As a group, sell-side analysts expect that Embecta will post 2.85 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 4.87%. Embecta’s dividend payout ratio (DPR) is 60.00%.

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.