Bank of Montreal Can reduced its position in Cambrex Corporation (NYSE:CBM) by 59.5% during the second quarter, Holdings Channel reports. The firm owned 39,311 shares of the biotechnology company’s stock after selling 57,766 shares during the period. Bank of Montreal Can’s holdings in Cambrex Corporation were worth $2,349,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its stake in Cambrex Corporation by 3.8% in the first quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock worth $103,000 after buying an additional 68 shares during the period. YorkBridge Wealth Partners LLC increased its stake in Cambrex Corporation by 20.2% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,874 shares of the biotechnology company’s stock worth $106,000 after buying an additional 315 shares during the period. Meeder Asset Management Inc. purchased a new stake in Cambrex Corporation during the first quarter worth $109,000. Dubuque Bank & Trust Co. purchased a new stake in Cambrex Corporation during the first quarter worth $144,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Cambrex Corporation during the first quarter worth $151,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Cambrex Corporation (NYSE CBM) traded down 0.85% during midday trading on Friday, reaching $52.80. The company’s stock had a trading volume of 63,543 shares. The firm has a 50-day moving average price of $58.69 and a 200 day moving average price of $55.48. Cambrex Corporation has a 52-week low of $38.30 and a 52-week high of $62.95. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.23 and a beta of 2.28.

Cambrex Corporation (NYSE:CBM) last released 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 business had revenue of $134.55 million for the quarter, compared to analysts’ expectations of $136.82 million. During the same period in the prior year, the firm earned $0.68 earnings per share. Cambrex Corporation’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that Cambrex Corporation will post $3.08 EPS for the current fiscal year.

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A number of research firms have weighed in on CBM. BidaskClub upgraded Cambrex Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded Cambrex Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Thursday, May 11th. Finally, ValuEngine downgraded Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cambrex Corporation presently has an average rating of “Buy” and a consensus target price of $64.00.

In other Cambrex Corporation news, Director Leon J. Hendrix, Jr. sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $55.95, for a total value of $1,155,703.20. Following the transaction, the director now directly owns 74,662 shares of the company’s stock, valued at $4,177,338.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven M. Klosk sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $54.19, for a total transaction of $650,280.00. Following the completion of the transaction, the chief executive officer now directly owns 95,328 shares in the company, valued at $5,165,824.32. The disclosure for this sale can be found here. Insiders have sold 70,656 shares of company stock worth $4,064,423 over the last three months. 2.48% of the stock is owned by 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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Institutional Ownership by Quarter for Cambrex Corporation (NYSE:CBM)

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