Cambrex Corp. (CBM) Trading Down 3%
Cambrex Corp. (NYSE:CBM) fell 3% during trading on Friday . The stock traded as low as $44.14 and last traded at $44.19, with a volume of 116,778 shares. The stock had previously closed at $45.58.
Separately, Zacks Investment Research lowered Cambrex Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
The company has a 50 day moving average of $51.99 and a 200-day moving average of $46.22. The stock has a market capitalization of $1.43 billion and a P/E ratio of 22.43.
Cambrex Corp. (NYSE:CBM) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. During the same quarter in the prior year, the company earned $0.63 EPS. The company earned $118.22 million during the quarter, compared to analyst estimates of $114.85 million. The business’s revenue was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Cambrex Corp. will post $2.55 earnings per share for the current year.
In other news, Director William B. Korb sold 8,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $51.06, for a total transaction of $408,480.00. Following the completion of the sale, the director now owns 25,304 shares in the company, valued at $1,292,022.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William B. Korb sold 3,420 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $55.00, for a total transaction of $188,100.00. Following the sale, the director now owns 23,982 shares of the company’s stock, valued at approximately $1,319,010. The disclosure for this sale can be found here.
Several large investors have made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Cambrex Corp. by 31.1% in the fourth quarter. Bank of Montreal Can now owns 31,339 shares of the company’s stock valued at $1,476,000 after buying an additional 7,431 shares during the period. Redwood Investments LLC increased its stake in shares of Cambrex Corp. by 28.9% in the fourth quarter. Redwood Investments LLC now owns 45,791 shares of the company’s stock valued at $2,156,000 after buying an additional 10,259 shares during the period. Calvert Investment Management Inc. acquired a new stake in shares of Cambrex Corp. during the fourth quarter valued at $3,312,000. Victory Capital Management Inc. increased its stake in shares of Cambrex Corp. by 13,241.1% in the fourth quarter. Victory Capital Management Inc. now owns 142,483 shares of the company’s stock valued at $6,710,000 after buying an additional 141,415 shares during the period. Finally, Morgan Stanley increased its stake in shares of Cambrex Corp. by 27.9% in the fourth quarter. Morgan Stanley now owns 323,861 shares of the company’s stock valued at $15,250,000 after buying an additional 70,585 shares during the period.
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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