Ameriprise Financial Inc. Has $17.26 Million Position in Cambrex Co. (CBM)
Ameriprise Financial Inc. boosted its stake in shares of Cambrex Co. (NYSE:CBM) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,817 shares of the biotechnology company’s stock after buying an additional 17,636 shares during the period. Ameriprise Financial Inc. owned approximately 0.96% of Cambrex worth $17,260,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp increased its position in Cambrex by 0.8% during the 2nd quarter. Stifel Financial Corp now owns 4,580 shares of the biotechnology company’s stock valued at $275,000 after buying an additional 37 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Cambrex by 5.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,971 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 97 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Cambrex by 2.5% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 4,000 shares of the biotechnology company’s stock valued at $239,000 after buying an additional 99 shares in the last quarter. Arizona State Retirement System increased its position in Cambrex by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,976 shares of the biotechnology company’s stock valued at $1,014,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Cambrex by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,178 shares of the biotechnology company’s stock valued at $1,325,000 after buying an additional 119 shares in the last quarter.
CBM has been the subject of a number of analyst reports. Craig Hallum reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $70.00) on shares of Cambrex in a research report on Tuesday, October 31st. BidaskClub lowered Cambrex from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, ValuEngine downgraded Cambrex from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.33.
In other Cambrex news, CEO Steven M. Klosk sold 4,000 shares of the 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 in the company, valued at approximately $4,799,546.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.
Shares of Cambrex Co. (CBM) opened at $49.90 on Thursday. Cambrex Co. has a 52 week low of $42.55 and a 52 week high of $62.95. The company has a market capitalization of $1,629.05, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.12 and a beta of 2.26.
Cambrex (NYSE:CBM) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.47 by $0.08. Cambrex had a return on equity of 23.42% and a net margin of 18.79%. The business had revenue of $112.60 million for the quarter, compared to the consensus estimate of $108.44 million. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. analysts expect that Cambrex Co. will post 2.97 EPS for the current year.
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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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