Employees Retirement System of Texas maintained its stake in shares of Cambrex Corporation (NYSE:CBM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,000 shares of the biotechnology company’s stock at the end of the second quarter. Employees Retirement System of Texas owned about 0.11% of Cambrex Corporation worth $2,211,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CBM. Creative Planning lifted its holdings in shares of Cambrex Corporation by 162.6% during the 2nd quarter. Creative Planning now owns 1,765 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 1,093 shares during the period. Nisa Investment Advisors LLC increased its position in Cambrex Corporation by 9.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,760 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 150 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Cambrex Corporation during the 1st quarter worth approximately $109,000. YorkBridge Wealth Partners LLC increased its position in Cambrex Corporation by 5.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,971 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 97 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Cambrex Corporation during the 1st quarter worth approximately $151,000.
Shares of Cambrex Corporation (CBM) opened at 53.80 on Thursday. Cambrex Corporation has a 52-week low of $38.30 and a 52-week high of $62.95. The firm has a market cap of $1.76 billion, a P/E ratio of 19.60 and a beta of 2.28. The company’s 50-day moving average is $53.02 and its 200-day moving average is $55.47.
Cambrex Corporation (NYSE:CBM) last announced its quarterly earnings results on Friday, August 4th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The business had revenue of $134.55 million during the quarter, compared to analyst estimates of $136.82 million. Cambrex Corporation had a return on equity of 24.25% and a net margin of 17.70%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts forecast that Cambrex Corporation will post $3.08 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Cambrex Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. 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 has a consensus rating of “Hold” and an average target price of $65.67.
In related news, CEO Steven M. Klosk sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $54.96, for a total value of $219,840.00. Following the completion of the sale, the chief executive officer now directly owns 87,328 shares in the company, valued at approximately $4,799,546.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven M. Klosk sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $51.53, for a total value of $618,360.00. Following the completion of the sale, the chief executive officer now owns 95,328 shares of the company’s stock, valued at $4,912,251.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,000 shares of company stock valued at $1,574,880. 2.48% of the stock is owned by corporate insiders.
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Cambrex Corporation 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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