First Trust Advisors LP Takes $1.35 Million Position in Cambrex Co. (CBM)

First Trust Advisors LP purchased a new position in shares of Cambrex Co. (NYSE:CBM) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,734 shares of the biotechnology company’s stock, valued at approximately $1,346,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Trillium Asset Management LLC grew its position in Cambrex by 1.5% during the second quarter. Trillium Asset Management LLC now owns 69,371 shares of the biotechnology company’s stock worth $3,628,000 after buying an additional 1,027 shares during the period. King Luther Capital Management Corp grew its position in Cambrex by 1.8% during the first quarter. King Luther Capital Management Corp now owns 57,258 shares of the biotechnology company’s stock worth $2,995,000 after buying an additional 1,034 shares during the period. Suntrust Banks Inc. grew its position in Cambrex by 16.5% during the first quarter. Suntrust Banks Inc. now owns 7,480 shares of the biotechnology company’s stock worth $390,000 after buying an additional 1,059 shares during the period. Prudential Financial Inc. grew its position in Cambrex by 2.1% during the first quarter. Prudential Financial Inc. now owns 55,653 shares of the biotechnology company’s stock worth $2,911,000 after buying an additional 1,150 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Cambrex by 2.8% during the first quarter. Great West Life Assurance Co. Can now owns 43,279 shares of the biotechnology company’s stock worth $2,264,000 after buying an additional 1,173 shares during the period.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Cambrex from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.50.

In other news, CFO Tom George Vadaketh sold 9,510 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $63.42, for a total value of $603,124.20. Following the sale, the chief financial officer now directly owns 9,510 shares in the company, valued at $603,124.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven M. Klosk sold 55,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $51.73, for a total transaction of $2,845,150.00. Following the completion of the sale, the chief executive officer now owns 188,328 shares in the company, valued at $9,742,207.44. The disclosure for this sale can be found here. Insiders sold 333,760 shares of company stock worth $20,480,077 over the last quarter. Company insiders own 2.42% of the company’s stock.

Shares of CBM opened at $63.70 on Friday. Cambrex Co. has a twelve month low of $42.55 and a twelve month high of $67.85. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 20.09 and a beta of 2.39.

Cambrex (NYSE:CBM) last issued its earnings results on Thursday, August 2nd. The biotechnology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $152.05 million for the quarter, compared to analyst estimates of $132.78 million. Cambrex had a net margin of 20.75% and a return on equity of 22.32%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. equities analysts anticipate that Cambrex Co. will post 2.82 EPS for the current fiscal year.

Cambrex Profile

Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.

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Institutional Ownership by Quarter for Cambrex (NYSE:CBM)

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