Pasadena Private Wealth LLC Reduces Position in Harvard Bioscience, Inc. $HBIO

Pasadena Private Wealth LLC cut its holdings in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) by 81.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,000 shares of the medical instruments supplier’s stock after selling 198,911 shares during the quarter. Pasadena Private Wealth LLC owned approximately 0.10% of Harvard Bioscience worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Harvard Bioscience during the fourth quarter valued at about $401,000. Bank of America Corp DE increased its position in shares of Harvard Bioscience by 44.4% during the fourth quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after buying an additional 11,948 shares during the period. Weber Capital Management LLC ADV bought a new stake in shares of Harvard Bioscience during the fourth quarter valued at about $2,140,000. Gamco Investors INC. ET AL bought a new stake in shares of Harvard Bioscience during the fourth quarter valued at about $38,000. Finally, Legato Capital Management LLC increased its position in shares of Harvard Bioscience by 210.4% during the fourth quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 29,462 shares during the period. 80.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HBIO. Benchmark decreased their price target on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 13th. New Street Research set a $6.00 price target on Harvard Bioscience in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Harvard Bioscience in a research report on Friday, March 27th. Finally, Wall Street Zen cut Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Harvard Bioscience Stock Down 1.2%

HBIO stock opened at $5.88 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.06 and a debt-to-equity ratio of 3.60. The company’s 50 day moving average is $5.72 and its 200 day moving average is $6.05. The stock has a market cap of $26.52 million, a price-to-earnings ratio of -2.71 and a beta of 1.57. Harvard Bioscience, Inc. has a 1-year low of $3.10 and a 1-year high of $9.50.

Harvard Bioscience (NASDAQ:HBIO) last posted its quarterly earnings data on Tuesday, May 12th. The medical instruments supplier reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.29. The company had revenue of $20.76 million for the quarter, compared to analysts’ expectations of $21.20 million. Harvard Bioscience had a negative net margin of 11.44% and a negative return on equity of 25.78%.

Insider Buying and Selling

In related news, Director Stephen J. Denelsky acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director owned 21,000 shares in the company, valued at approximately $102,270. This trade represents a 90.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John D. Duke acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average price of $5.01 per share, for a total transaction of $25,050.00. Following the completion of the transaction, the chief executive officer owned 105,000 shares of the company’s stock, valued at $526,050. The trade was a 5.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 36,000 shares of company stock worth $177,354. Insiders own 20.30% of the company’s stock.

Harvard Bioscience Profile

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.