Harvard Bioscience, Inc. (NASDAQ:HBIO) Expected to Announce Quarterly Sales of $32.65 Million

Equities analysts expect Harvard Bioscience, Inc. (NASDAQ:HBIO) to announce $32.65 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Harvard Bioscience’s earnings, with estimates ranging from $32.50 million to $32.80 million. Harvard Bioscience posted sales of $30.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The firm is expected to report its next quarterly earnings results on Wednesday, March 9th.

On average, analysts expect that Harvard Bioscience will report full year sales of $117.65 million for the current fiscal year, with estimates ranging from $116.90 million to $118.40 million. For the next year, analysts anticipate that the firm will report sales of $127.10 million, with estimates ranging from $126.20 million to $128.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Harvard Bioscience.

Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings data on Tuesday, November 2nd. The medical instruments supplier reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Harvard Bioscience had a positive return on equity of 9.59% and a negative net margin of 1.60%. The business had revenue of $29.66 million during the quarter, compared to analyst estimates of $28.10 million. During the same period in the previous year, the firm earned $0.01 EPS.

Separately, Zacks Investment Research downgraded Harvard Bioscience from a “hold” rating to a “sell” rating in a research report on Tuesday, November 9th.

A number of large investors have recently added to or reduced their stakes in HBIO. Vanguard Group Inc. boosted its position in Harvard Bioscience by 26.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,925,868 shares of the medical instruments supplier’s stock worth $16,043,000 after acquiring an additional 402,541 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Harvard Bioscience during the 2nd quarter worth approximately $2,868,000. Wells Fargo & Company MN raised its stake in shares of Harvard Bioscience by 71.4% during the 2nd quarter. Wells Fargo & Company MN now owns 423,186 shares of the medical instruments supplier’s stock worth $3,525,000 after purchasing an additional 176,253 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Harvard Bioscience by 1,019.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 162,134 shares of the medical instruments supplier’s stock worth $1,351,000 after purchasing an additional 147,655 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Harvard Bioscience by 153.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 223,776 shares of the medical instruments supplier’s stock worth $1,864,000 after purchasing an additional 135,442 shares in the last quarter. 68.92% of the stock is owned by hedge funds and other institutional investors.

Shares of HBIO traded down $0.11 on Friday, hitting $7.12. The company’s stock had a trading volume of 51,932 shares, compared to its average volume of 210,059. Harvard Bioscience has a fifty-two week low of $3.59 and a fifty-two week high of $8.75. The company has a quick ratio of 1.26, a current ratio of 2.37 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $7.46. The stock has a market capitalization of $290.57 million, a price-to-earnings ratio of -142.40 and a beta of 1.74.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products and services that enable fundamental research, discovery, and pre-clinical testing for drug development. It operates under the geographical segments: United States, Germany, United Kingdom, and Rest of the world. It sells its products through catalog, Website, distributors, and direct sales force.

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