Embecta Corp. (NASDAQ:EMBC – Get Rating) saw a large decrease in short interest in December. As of December 30th, there was short interest totalling 3,900,000 shares, a decrease of 5.8% from the December 15th total of 4,140,000 shares. Based on an average daily volume of 643,400 shares, the short-interest ratio is currently 6.1 days. Approximately 6.9% of the company's shares are short sold.
Wall Street Analyst Weigh In
Separately, Morgan Stanley cut shares of Embecta from an "equal weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a research report on Friday, January 6th.
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Embecta Trading Down 3.3 %
Shares of EMBC stock opened at $23.70 on Wednesday. Embecta has a fifty-two week low of $22.30 and a fifty-two week high of $49.00. The stock has a 50 day moving average price of $28.89 and a two-hundred day moving average price of $29.54.
Embecta (NASDAQ:EMBC – Get Rating) last posted its quarterly earnings results on Tuesday, December 20th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.06. The company had revenue of $274.60 million during the quarter, compared to analyst estimates of $263.88 million. Embecta had a net
margin of 19.80% and a negative return on equity of 52.41%. On average, analysts predict that Embecta will post 1.9 earnings per share for the current year.
Embecta Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Investors of record on Friday, December 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.53%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Embecta during the third quarter valued at approximately $258,676,000. Vanguard Group Inc. bought a new position in Embecta in the 3rd quarter worth $197,911,000. State Street Corp purchased a new stake in shares of Embecta in the 3rd quarter worth about $68,114,000. Yacktman Asset Management LP bought a new stake in shares of Embecta during the 3rd quarter valued at about $66,598,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Embecta during the third quarter valued at about $29,545,000. Institutional investors own 93.45% of the company's stock.
About Embecta
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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 devices, as well as digital applications to assist people with managing their diabetes. The company primarily sells its products to wholesalers and distributors in the United States and internationally.
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