New York State Teachers Retirement System cut its position in shares of Cambrex Corporation (NYSE:CBM) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,680 shares of the biotechnology company’s stock after selling 1,935 shares during the quarter. New York State Teachers Retirement System owned approximately 0.29% of Cambrex Corporation worth $5,207,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its holdings in Cambrex Corporation by 0.8% during the second quarter. Stifel Financial Corp now owns 4,580 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 37 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Cambrex Corporation by 22.3% during the third quarter. Tributary Capital Management LLC now owns 232,919 shares of the biotechnology company’s stock worth $12,811,000 after purchasing an additional 42,428 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Cambrex Corporation during the second quarter worth about $421,000. Vanguard Group Inc. boosted its stake in Cambrex Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,138,934 shares of the biotechnology company’s stock valued at $172,799,000 after acquiring an additional 139,010 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Cambrex Corporation by 3.1% in the second quarter. Nationwide Fund Advisors now owns 178,016 shares of the biotechnology company’s stock valued at $10,636,000 after acquiring an additional 5,275 shares during the last quarter.
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In related news, CEO Steven M. Klosk sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $51.53, for a total transaction of $618,360.00. Following the sale, the chief executive officer now directly owns 95,328 shares in the company, valued at approximately $4,912,251.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven M. Klosk sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $54.96, for a total transaction of $219,840.00. Following the sale, the chief executive officer now owns 87,328 shares in the company, valued at $4,799,546.88. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.
Cambrex Corporation (CBM) opened at $46.35 on Friday. The firm has a market cap of $1,511.05, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.03 and a beta of 2.26. Cambrex Corporation has a 52 week low of $42.55 and a 52 week high of $62.95.
Cambrex Corporation (NYSE:CBM) last released its earnings results on Tuesday, November 7th. The biotechnology company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.08. The firm had revenue of $112.60 million for the quarter, compared to analysts’ expectations of $108.44 million. Cambrex Corporation had a net margin of 18.79% and a return on equity of 23.42%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share.
A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of Cambrex Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. ValuEngine cut shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Craig Hallum reiterated a “buy” rating and issued a $60.00 target price (down from $70.00) on shares of Cambrex Corporation in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.33.
About Cambrex Corporation
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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