Jul. 29 at 8:06 PM
$EMBC I also expect a meaningful reduction in the free float.
As CEOKurdikar previously stated, Embecta planned to begin its
$100M share repurchase program in Q2, with approximately
$33MALLOCATED per year over three years.
My view is that the strongest buying opportunity came after the May 5 selloff, when the stock collapstoward
$3.00 but consistently refused to break lower despite heavy selling pressure. The same pattern appeared during the forced selling around the S&P Sc 600 deletion on Jun 18 and Jun 22, when extraordinary volume hit the market, yet the
$3AREA continued to absorb supply.
Based on that price action, I believe Embc may have already retired roughly 3–5 mil shares, potentially reducing the effective float from about 59 mil shares to approximately 54–56 mil.
If upcoming earnings confirm meaningful buyback activity, new customer wins, and continued business execution, the combination of a smaller float and improving fundamentals could create a very powerful move higher.
