Harvard Bioscience (NASDAQ:HBIO) released its quarterly earnings results on Thursday. The medical instruments supplier reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01, Morningstar.com reports. Harvard Bioscience had a negative net margin of 1.45% and a positive return on equity of 5.95%. The company had revenue of $29.58 million for the quarter, compared to the consensus estimate of $29.30 million. Harvard Bioscience updated its FY 2019 guidance to $0.19-0.21 EPS.
Shares of HBIO traded up $0.83 during mid-day trading on Friday, hitting $2.70. The company’s stock had a trading volume of 4,740,754 shares, compared to its average volume of 314,570. The company has a 50-day moving average of $1.97. The company has a market cap of $101.76 million, a PE ratio of 18.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.22 and a quick ratio of 1.12. Harvard Bioscience has a fifty-two week low of $1.51 and a fifty-two week high of $6.70.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Harvard Bioscience by 2.5% in the 4th quarter. BlackRock Inc. now owns 3,067,176 shares of the medical instruments supplier’s stock worth $9,754,000 after purchasing an additional 73,423 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in shares of Harvard Bioscience by 1,164.5% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,117,421 shares of the medical instruments supplier’s stock worth $2,235,000 after purchasing an additional 1,029,052 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Harvard Bioscience by 37.5% in the 2nd quarter. Foundry Partners LLC now owns 720,540 shares of the medical instruments supplier’s stock worth $1,441,000 after purchasing an additional 196,375 shares during the last quarter. Cadence Capital Management LLC grew its stake in shares of Harvard Bioscience by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 520,945 shares of the medical instruments supplier’s stock worth $2,245,000 after purchasing an additional 9,109 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Harvard Bioscience by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 352,825 shares of the medical instruments supplier’s stock worth $1,121,000 after purchasing an additional 18,372 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Janney Montgomery Scott cut shares of Harvard Bioscience from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Monday, July 8th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of Harvard Bioscience in a research note on Friday, July 19th.
Harvard Bioscience Company Profile
Harvard Bioscience, Inc provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers physiology, cell, and molecular instruments, such as traditional syringe pump and peristaltic pump products, as well as a range of instruments and accessories for tissue, organ, and animal based lab research under the Harvard Apparatus, CMA Microdialysis, Panlab, Coulbourn, and Hugo Sachs brands; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, sample preparation plates and columns, and electroporation and electrofusion instruments under the Biochrom, BioDrop, Hoefer, Scie-plas, QuikPrep, and BTX brands.
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