Embecta Corp. (NASDAQ:EMBC) Short Interest Down 20.1% in May

Embecta Corp. (NASDAQ:EMBC - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 2,350,000 shares, a decline of 20.1% from the April 30th total of 2,940,000 shares. Approximately 4.3% of the company's stock are sold short. Based on an average trading volume of 627,400 shares, the short-interest ratio is currently 3.7 days.

Embecta Stock Performance

Shares of EMBC traded up $0.16 during trading hours on Tuesday, reaching $10.61. 593,756 shares of the company traded hands, compared to its average volume of 468,711. The stock's fifty day moving average is $11.85 and its 200 day moving average is $15.37. Embecta has a 1-year low of $10.20 and a 1-year high of $21.48. The stock has a market cap of $620.08 million, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Embecta had a negative return on equity of 19.22% and a net margin of 5.25%. The firm had revenue of $259.00 million for the quarter, compared to analyst estimates of $261.77 million. During the same period in the previous year, the company posted $0.67 earnings per share. The company's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that Embecta will post 2.85 EPS for the current year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is presently 66.67%.

Insider Transactions at Embecta

In other news, Director David F. Melcher acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the acquisition, the director now owns 86,681 shares of the company's stock, valued at approximately $918,818.60. This represents a 13.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Embecta by 175.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 774 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Embecta by 9.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,004 shares of the company's stock worth $140,000 after purchasing an additional 907 shares during the period. Victory Capital Management Inc. boosted its holdings in Embecta by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 17,489 shares of the company's stock valued at $361,000 after purchasing an additional 923 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Embecta by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 32,307 shares of the company's stock valued at $667,000 after purchasing an additional 1,138 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Embecta by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,323 shares of the company's stock worth $629,000 after buying an additional 1,159 shares in the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EMBC shares. BTIG Research set a $25.00 price target on shares of Embecta and gave the stock a "buy" rating in a research note on Friday, May 23rd. Mizuho decreased their price objective on shares of Embecta from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Embecta from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

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.