Zacks Investment Research upgraded shares of Harvard Bioscience (NASDAQ:HBIO) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. The firm currently has $3.00 price target on the medical instruments supplier’s stock.
According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “
HBIO has been the subject of a number of other research reports. Benchmark reiterated a buy rating on shares of Harvard Bioscience in a research report on Friday, July 19th. Janney Montgomery Scott downgraded shares of Harvard Bioscience from a buy rating to a neutral rating and set a $2.00 target price for the company. in a research report on Monday, July 8th. Finally, ValuEngine upgraded shares of Harvard Bioscience from a hold rating to a buy rating in a research report on Wednesday, October 2nd.
HBIO stock traded up $0.05 during midday trading on Friday, reaching $2.85. The company had a trading volume of 80,946 shares, compared to its average volume of 146,282. Harvard Bioscience has a 1 year low of $1.51 and a 1 year high of $4.74. The company has a current ratio of 2.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $108.44 million, a P/E ratio of 19.00 and a beta of 1.54. The company has a 50 day moving average of $2.93 and a two-hundred day moving average of $2.73.
Harvard Bioscience (NASDAQ:HBIO) last released its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Harvard Bioscience had a negative net margin of 0.46% and a positive return on equity of 5.24%. The company had revenue of $29.58 million during the quarter, compared to the consensus estimate of $29.30 million. On average, sell-side analysts anticipate that Harvard Bioscience will post 0.11 earnings per share for the current year.
In other Harvard Bioscience news, Director Bertrand Loy purchased 15,590 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $3.01 per share, for a total transaction of $46,925.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas W. Loewald purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $2.53 per share, for a total transaction of $50,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 112,877 shares of company stock valued at $293,742. Insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in HBIO. Tower Research Capital LLC TRC increased its stake in shares of Harvard Bioscience by 401.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,752 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 11,011 shares during the last quarter. Susquehanna International Group LLP acquired a new position in Harvard Bioscience in the 2nd quarter valued at $34,000. Jefferies Group LLC acquired a new position in Harvard Bioscience in the 2nd quarter valued at $36,000. Pasadena Private Wealth LLC acquired a new position in Harvard Bioscience in the 3rd quarter valued at $78,000. Finally, Citadel Advisors LLC acquired a new position in Harvard Bioscience in the 2nd quarter valued at $118,000. Institutional investors own 65.49% of the company’s stock.
About Harvard Bioscience
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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