Embecta Corp. (NASDAQ:EMBC – Get Free Report) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 1,830,000 shares, an increase of 13.7% from the September 30th total of 1,610,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 380,800 shares, the short-interest ratio is currently 4.8 days.
Analyst Ratings Changes
Separately, Morgan Stanley cut their price objective on Embecta from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, July 15th.
View Our Latest Analysis on EMBC
Institutional Inflows and Outflows
Embecta Stock Performance
Shares of EMBC stock traded up $0.34 during trading hours on Tuesday, reaching $14.47. The company had a trading volume of 211,540 shares, compared to its average volume of 409,283. The stock has a fifty day moving average of $14.56 and a 200-day moving average of $13.46. The company has a market capitalization of $834.48 million, a price-to-earnings ratio of 12.02 and a beta of 0.98. Embecta has a 12-month low of $9.93 and a 12-month high of $19.79.
Embecta (NASDAQ:EMBC – Get Free Report) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.28. The business had revenue of $272.50 million during the quarter, compared to analyst estimates of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. On average, analysts forecast that Embecta will post 2.43 EPS for the current year.
Embecta Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s dividend payout ratio is presently 49.59%.
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.
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