Pinnacle Associates Ltd. lowered its holdings in Cambrex Corporation (NYSE:CBM) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,350 shares of the biotechnology company’s stock after selling 500 shares during the period. Pinnacle Associates Ltd.’s holdings in Cambrex Corporation were worth $260,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of Cambrex Corporation by 9.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,760 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 150 shares during the period. Creative Planning grew its position in shares of Cambrex Corporation by 162.6% in the second quarter. Creative Planning now owns 1,765 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 1,093 shares during the period. Flinton Capital Management LLC grew its position in shares of Cambrex Corporation by 3.8% in the first quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock valued at $103,000 after purchasing an additional 68 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Cambrex Corporation in the first quarter valued at $109,000. Finally, Dubuque Bank & Trust Co. grew its position in shares of Cambrex Corporation by 3.3% in the second quarter. Dubuque Bank & Trust Co. now owns 2,697 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 87 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.
In other Cambrex Corporation news, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $61.39, for a total transaction of $736,680.00. Following the transaction, the chief executive officer now directly owns 95,328 shares of the company’s stock, valued at $5,852,185.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 36,000 shares of company stock worth $2,070,960 over the last three months. Company insiders own 2.48% of the company’s stock.
A number of brokerages have recently commented on CBM. BidaskClub raised Cambrex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. ValuEngine downgraded Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $64.00.
Cambrex Corporation (NYSE CBM) opened at 50.00 on Monday. The firm has a market cap of $1.64 billion, a PE ratio of 18.21 and a beta of 2.25. The company has a 50-day moving average price of $54.58 and a 200-day moving average price of $55.26. Cambrex Corporation has a one year low of $38.30 and a one year high of $62.95.
Cambrex Corporation (NYSE:CBM) last posted its earnings results on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The firm had revenue of $134.55 million for the quarter, compared to the consensus estimate of $136.82 million. Cambrex Corporation had a net margin of 17.70% and a return on equity of 24.25%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts predict that Cambrex Corporation will post $3.08 earnings per share for the current fiscal year.
Cambrex Corporation Company Profile
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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