Principal Financial Group Inc. boosted its holdings in Cambrex Co. (NYSE:CBM) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,224 shares of the biotechnology company’s stock after acquiring an additional 8,624 shares during the quarter. Principal Financial Group Inc. owned 0.83% of Cambrex worth $14,237,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Gravity Companies Inc. bought a new position in shares of Cambrex during the 4th quarter valued at $166,000. Shaker Investments LLC OH bought a new position in shares of Cambrex during the 1st quarter valued at $209,000. Stevens Capital Management LP bought a new position in shares of Cambrex during the 1st quarter valued at $217,000. Elkfork Partners LLC bought a new position in shares of Cambrex during the 4th quarter valued at $202,000. Finally, MML Investors Services LLC bought a new position in shares of Cambrex during the 4th quarter valued at $204,000.
NYSE CBM opened at $49.85 on Wednesday. The firm has a market cap of $1.59 billion, a PE ratio of 14.62, a PEG ratio of 1.18 and a beta of 2.27. Cambrex Co. has a 1-year low of $42.55 and a 1-year high of $62.30.
Cambrex (NYSE:CBM) last released its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.22. The firm had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $104.44 million. Cambrex had a return on equity of 21.00% and a net margin of 18.69%. The company’s revenue was up 34.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. sell-side analysts predict that Cambrex Co. will post 2.73 earnings per share for the current fiscal year.
Several research firms have recently weighed in on CBM. Zacks Investment Research raised Cambrex from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. ValuEngine cut Cambrex from a “sell” rating to a “strong sell” rating in a report on Thursday, June 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.00.
In other news, COO Shawn Cavanagh sold 40,000 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $49.69, for a total value of $1,987,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory Sargen sold 67,500 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $49.48, for a total value of $3,339,900.00. The disclosure for this sale can be found here. Insiders sold a total of 162,500 shares of company stock valued at $7,837,700 over the last 90 days. 2.42% of the stock is currently owned by company insiders.
Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.
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