Meeder Asset Management Inc. trimmed its holdings in shares of Emergent Biosolutions Inc (NYSE:EBS) by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,051 shares of the biopharmaceutical company’s stock after selling 6,725 shares during the period. Meeder Asset Management Inc.’s holdings in Emergent Biosolutions were worth $727,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of EBS. Bank of New York Mellon Corp boosted its holdings in shares of Emergent Biosolutions by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 755,948 shares of the biopharmaceutical company’s stock worth $38,167,000 after purchasing an additional 16,801 shares during the period. GAM Holding AG purchased a new stake in shares of Emergent Biosolutions during the second quarter worth about $500,000. Northern Trust Corp boosted its holdings in shares of Emergent Biosolutions by 11.3% during the second quarter. Northern Trust Corp now owns 1,150,184 shares of the biopharmaceutical company’s stock worth $58,072,000 after purchasing an additional 117,098 shares during the period. Summit Global Investments boosted its holdings in shares of Emergent Biosolutions by 9.4% during the second quarter. Summit Global Investments now owns 12,800 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 1,100 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Emergent Biosolutions by 33.0% during the second quarter. Sei Investments Co. now owns 5,106 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 1,268 shares during the period. Institutional investors and hedge funds own 82.76% of the company’s stock.
In other Emergent Biosolutions news, Director Kathryn C. Zoon sold 4,242 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $69.74, for a total transaction of $295,837.08. Following the completion of the transaction, the director now owns 33,972 shares of the company’s stock, valued at $2,369,207.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam Havey sold 8,179 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $64.25, for a total transaction of $525,500.75. Following the transaction, the executive vice president now directly owns 31,264 shares of the company’s stock, valued at approximately $2,008,712. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,943 shares of company stock valued at $12,115,228. 16.50% of the stock is owned by insiders.
A number of equities analysts recently issued reports on EBS shares. Chardan Capital increased their price target on shares of Emergent Biosolutions from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research downgraded shares of Emergent Biosolutions from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Argus set a $80.00 price target on shares of Emergent Biosolutions and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald increased their price target on shares of Emergent Biosolutions from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Cowen reissued a “hold” rating and issued a $49.00 price target on shares of Emergent Biosolutions in a research note on Wednesday, August 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.25.
EBS stock opened at $67.54 on Friday. Emergent Biosolutions Inc has a 1 year low of $36.38 and a 1 year high of $71.01. The stock has a market capitalization of $3.54 billion, a P/E ratio of 35.55, a P/E/G ratio of 1.58 and a beta of 1.27. The company has a quick ratio of 4.29, a current ratio of 5.52 and a debt-to-equity ratio of 0.01.
Emergent Biosolutions (NYSE:EBS) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Emergent Biosolutions had a return on equity of 12.89% and a net margin of 14.19%. The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $185.16 million. During the same period in the previous year, the company earned $0.73 earnings per share. Emergent Biosolutions’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts anticipate that Emergent Biosolutions Inc will post 2.2 earnings per share for the current fiscal year.
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About Emergent Biosolutions
Emergent BioSolutions Inc focuses on the development, manufacture, and commercialization of medical countermeasures that address public health threats. Its products address public health threats primarily chemical, biological, radiological, nuclear, and explosive-related threats, as well as infectious diseases.
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