Harvard Bioscience (NASDAQ:HBIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, March 9th.
According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “
Other equities analysts also recently issued research reports about the stock. Janney Montgomery Scott increased their price target on shares of Harvard Bioscience from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Benchmark increased their price objective on shares of Harvard Bioscience from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $7.75.
NASDAQ:HBIO remained flat at $$5.00 during trading hours on Friday. 122,142 shares of the company’s stock were exchanged, compared to its average volume of 160,335. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.86 and a current ratio of 3.39. The stock has a market capitalization of $177.97, a P/E ratio of 83.33 and a beta of 1.27. Harvard Bioscience has a 12 month low of $2.25 and a 12 month high of $5.20.
Harvard Bioscience (NASDAQ:HBIO) last posted its quarterly earnings results on Thursday, March 1st. The medical instruments supplier reported $0.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.05. The company had revenue of $27.46 million for the quarter, compared to the consensus estimate of $26.60 million. Harvard Bioscience had a negative net margin of 0.85% and a positive return on equity of 2.34%. research analysts anticipate that Harvard Bioscience will post 0.12 earnings per share for the current year.
In other news, CFO Robert E. Gagnon sold 97,087 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $4.62, for a total value of $448,541.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Uveges sold 35,054 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $4.61, for a total transaction of $161,598.94. The disclosure for this sale can be found here. Insiders sold 241,413 shares of company stock valued at $1,106,256 in the last three months. Company insiders own 9.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in Harvard Bioscience by 5.2% during the 2nd quarter. Northern Trust Corp now owns 86,205 shares of the medical instruments supplier’s stock valued at $220,000 after purchasing an additional 4,260 shares in the last quarter. AXA grew its holdings in Harvard Bioscience by 16.7% during the 4th quarter. AXA now owns 167,500 shares of the medical instruments supplier’s stock valued at $553,000 after purchasing an additional 24,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Harvard Bioscience by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,540,021 shares of the medical instruments supplier’s stock valued at $3,927,000 after purchasing an additional 25,582 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Harvard Bioscience by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,740,790 shares of the medical instruments supplier’s stock valued at $6,528,000 after purchasing an additional 30,068 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Harvard Bioscience by 2,013.7% during the 4th quarter. Wells Fargo & Company MN now owns 32,446 shares of the medical instruments supplier’s stock valued at $107,000 after purchasing an additional 30,911 shares in the last quarter. 62.27% of the stock is owned by institutional investors and hedge funds.
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About Harvard Bioscience
Harvard Bioscience, Inc is a developer, manufacturer and marketer of a range of scientific instruments, systems and lab consumables used for basic research, drug discovery, clinical and environmental testing. The Company’s products are sold to thousands of researchers in over 100 countries through its global sales organization, Websites, catalogs and through distributors.
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