HighTower Advisors LLC Lowers Position in Cambrex Corporation (CBM)
HighTower Advisors LLC decreased its position in Cambrex Corporation (NYSE:CBM) by 4.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,592 shares of the biotechnology company’s stock after selling 348 shares during the period. HighTower Advisors LLC’s holdings in Cambrex Corporation were worth $450,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP purchased a new stake in shares of Cambrex Corporation in the first quarter valued at approximately $1,154,000. Legal & General Group Plc raised its stake in Cambrex Corporation by 0.5% in the first quarter. Legal & General Group Plc now owns 57,952 shares of the biotechnology company’s stock worth $3,185,000 after buying an additional 303 shares in the last quarter. Atria Investments LLC raised its stake in Cambrex Corporation by 53.0% in the second quarter. Atria Investments LLC now owns 9,579 shares of the biotechnology company’s stock worth $572,000 after buying an additional 3,318 shares in the last quarter. Vanguard Group Inc. raised 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 worth $172,799,000 after buying an additional 139,010 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Cambrex Corporation by 20.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 145,527 shares of the biotechnology company’s stock worth $8,012,000 after buying an additional 25,129 shares in the last quarter.
Cambrex Corporation (NYSE CBM) opened at 52.50 on Thursday. The company has a 50-day moving average of $53.30 and a 200-day moving average of $55.49. The company has a market cap of $1.72 billion, a P/E ratio of 19.13 and a beta of 2.28. Cambrex Corporation has a 52 week low of $38.30 and a 52 week high of $62.95.
Cambrex Corporation (NYSE:CBM) last issued its quarterly earnings results on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. Cambrex Corporation had a net margin of 17.70% and a return on equity of 24.25%. The company had revenue of $134.55 million during the quarter, compared to analysts’ expectations of $136.82 million. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Cambrex Corporation will post $3.08 EPS for the current year.
A number of brokerages recently commented on CBM. ValuEngine downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Cambrex Corporation currently has a consensus rating of “Hold” and an average price target of $65.67.
In other Cambrex Corporation news, CEO Steven M. Klosk sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $61.39, for a total value of $736,680.00. Following the completion of the transaction, the chief executive officer now owns 95,328 shares of the company’s stock, valued at approximately $5,852,185.92. 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 Cambrex Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $54.96, for a total transaction of $219,840.00. Following the sale, the chief executive officer now directly owns 87,328 shares of the company’s stock, valued at $4,799,546.88. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock valued at $1,574,880 in the last three months. 2.48% of the stock is currently owned by corporate insiders.
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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