Cambrex Corporation (CBM) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its position in shares of Cambrex Corporation (NYSE:CBM) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,181 shares of the biotechnology company’s stock after acquiring an additional 45,742 shares during the period. Ameriprise Financial Inc. owned approximately 0.91% of Cambrex Corporation worth $17,697,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. 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 last quarter. Nisa Investment Advisors LLC increased its stake in shares of Cambrex Corporation by 9.3% during the second 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 during the period. Meeder Asset Management Inc. bought a new position in shares of Cambrex Corporation during the first quarter worth approximately $109,000. Ameritas Investment Partners Inc. bought a new position in shares of Cambrex Corporation during the first quarter worth approximately $151,000. Finally, Riverhead Capital Management LLC increased its stake in shares of Cambrex Corporation by 90.3% during the second quarter. Riverhead Capital Management LLC now owns 2,664 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 1,264 shares during the period. Institutional investors own 98.28% of the company’s stock.
Cambrex Corporation (CBM) opened at 55.10 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.07 and a beta of 2.28. Cambrex Corporation has a 52-week low of $38.30 and a 52-week high of $62.95. The company’s 50-day moving average is $52.54 and its 200-day moving average is $55.32.
Cambrex Corporation (NYSE:CBM) last posted its quarterly earnings data on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Cambrex Corporation had a return on equity of 24.25% and a net margin of 17.70%. The business had revenue of $134.55 million for the quarter, compared to the consensus estimate of $136.82 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Cambrex Corporation’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Cambrex Corporation will post $3.08 earnings per share for the current fiscal year.
Several research firms recently weighed in on CBM. BidaskClub cut Cambrex Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. ValuEngine downgraded Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered Cambrex Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.00.
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In other Cambrex Corporation news, CEO Steven M. Klosk sold 4,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 87,328 shares in the company, valued at $4,799,546.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven M. Klosk sold 12,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $51.53, for a total value of $618,360.00. Following the transaction, the chief executive officer now directly owns 95,328 shares in the company, valued at approximately $4,912,251.84. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock valued at $1,574,880 over the last three months. Company insiders own 2.48% of the company’s stock.
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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