Zacks Investment Research lowered shares of Harvard Bioscience (NASDAQ:HBIO) from a buy rating to a hold rating in a report issued on Friday morning.
According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “
A number of other research analysts also recently issued reports on the company. Janney Montgomery Scott increased their price objective on Harvard Bioscience from $5.00 to $8.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Benchmark increased their price objective on Harvard Bioscience from $6.00 to $10.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $7.75.
Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings results on Thursday, March 1st. The medical instruments supplier reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Harvard Bioscience had a positive return on equity of 2.38% and a negative net margin of 0.85%. The company had revenue of $27.46 million during the quarter, compared to the consensus estimate of $26.60 million. sell-side analysts predict that Harvard Bioscience will post 0.11 EPS for the current fiscal year.
In related news, CFO Robert E. Gagnon sold 97,087 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $4.62, for a total transaction of $448,541.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Uveges sold 35,054 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $4.61, for a total value of $161,598.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,163 shares of company stock valued at $1,004,351. 9.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its stake in Harvard Bioscience by 5.2% in the second 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 stake in Harvard Bioscience by 16.7% in the fourth 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 stake in Harvard Bioscience by 1.7% in the second 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 stake in Harvard Bioscience by 1.8% in the third 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 stake in Harvard Bioscience by 2,013.7% in the fourth 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. Hedge funds and other institutional investors own 63.54% of the company’s stock.
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Harvard Bioscience Company Profile
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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