Wells Fargo & Company MN trimmed its stake in shares of Cambrex Corporation (NYSE:CBM) by 14.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,126,587 shares of the biotechnology company’s stock after selling 186,553 shares during the period. Wells Fargo & Company MN owned approximately 3.46% of Cambrex Corporation worth $67,314,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBM. Great West Life Assurance Co. Can grew its position in Cambrex Corporation by 7.4% during the first quarter. Great West Life Assurance Co. Can now owns 45,731 shares of the biotechnology company’s stock valued at $2,515,000 after buying an additional 3,132 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Cambrex Corporation by 123.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 50,931 shares of the biotechnology company’s stock worth $2,804,000 after purchasing an additional 28,115 shares during the period. First Trust Advisors LP bought a new position in shares of Cambrex Corporation in the first quarter worth approximately $1,154,000. American Century Companies Inc. boosted its position in shares of Cambrex Corporation by 6.8% in the first quarter. American Century Companies Inc. now owns 129,440 shares of the biotechnology company’s stock worth $7,126,000 after purchasing an additional 8,204 shares during the period. Finally, Flinton Capital Management LLC boosted 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 worth $103,000 after purchasing an additional 68 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Steven M. Klosk sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $61.39, for a total transaction of $736,680.00. Following the completion of the sale, the chief executive officer now owns 95,328 shares in the company, valued at $5,852,185.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 36,000 shares of company stock valued at $2,070,960 over the last three months. Corporate insiders own 2.48% of the company’s stock.
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CBM has been the subject of a number of research reports. BidaskClub upgraded shares of Cambrex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. ValuEngine downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research 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 a consensus rating of “Hold” and a consensus target price of $64.00.
Cambrex Corporation (CBM) opened at 52.65 on Friday. Cambrex Corporation has a one year low of $38.30 and a one year high of $62.95. The company has a market capitalization of $1.72 billion, a PE ratio of 19.18 and a beta of 2.25. The firm’s 50-day moving average is $53.69 and its 200 day moving average is $55.15.
Cambrex Corporation (NYSE:CBM) last announced its quarterly earnings data on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. The business had revenue of $134.55 million during the quarter, compared to the consensus estimate of $136.82 million. Cambrex Corporation had a return on equity of 24.25% and a net margin of 17.70%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts expect that Cambrex Corporation will post $3.08 EPS 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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