Short Interest in Embecta Corp. (NASDAQ:EMBC) Declines By 20.1%

Embecta Corp. (NASDAQ:EMBC - Get Free Report) was the target of a large decline in short interest in the month of 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. Currently, 4.3% of the shares of the company are sold short. Based on an average daily trading volume, of 627,400 shares, the short-interest ratio is currently 3.7 days.

Embecta Stock Performance

Shares of NASDAQ EMBC traded down $0.42 during mid-day trading on Thursday, reaching $9.98. The company had a trading volume of 540,584 shares, compared to its average volume of 470,831. The company has a market capitalization of $583.26 million, a price-to-earnings ratio of 9.98, a PEG ratio of 0.78 and a beta of 1.13. The stock has a fifty day moving average of $11.73 and a two-hundred day moving average of $15.27. Embecta has a 12-month low of $9.98 and a 12-month high of $21.48.

Embecta (NASDAQ:EMBC - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The company had revenue of $259.00 million during the quarter, compared to the consensus estimate of $261.77 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The company's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts forecast that Embecta will post 2.85 earnings per share for the current fiscal year.

Embecta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Wednesday, May 28th. Embecta's dividend payout ratio is currently 66.67%.

Insider Activity

In other Embecta news, Director David F. Melcher acquired 10,000 shares of Embecta stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the transaction, the director now owns 86,681 shares in the company, valued at approximately $918,818.60. This represents a 13.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Embecta

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Embecta by 175.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 774 shares during the period. Sterling Capital Management LLC raised its position in Embecta by 796.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,685 shares of the company's stock worth $35,000 after purchasing an additional 1,497 shares in the last quarter. Banque Transatlantique SA lifted its position in shares of Embecta by 879.1% during the 1st quarter. Banque Transatlantique SA now owns 3,701 shares of the company's stock worth $44,000 after buying an additional 3,323 shares during the period. Brooklyn Investment Group grew its holdings in shares of Embecta by 1,164.1% in the 1st quarter. Brooklyn Investment Group now owns 3,590 shares of the company's stock worth $46,000 after purchasing an additional 3,306 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of Embecta in the 1st quarter worth approximately $48,000. 93.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.