Harvard Bioscience (NASDAQ:HBIO) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Harvard Bioscience (NASDAQ:HBIOGet Rating) from a sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “

Separately, StockNews.com initiated coverage on Harvard Bioscience in a report on Thursday, March 31st. They set a hold rating for the company.

Harvard Bioscience stock opened at $3.78 on Wednesday. The stock has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $6.21. The company has a quick ratio of 1.13, a current ratio of 2.18 and a debt-to-equity ratio of 0.61. Harvard Bioscience has a 12-month low of $3.36 and a 12-month high of $8.75.

Harvard Bioscience (NASDAQ:HBIOGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Harvard Bioscience had a negative net margin of 5.38% and a positive return on equity of 9.06%. During the same period in the prior year, the firm earned $0.03 earnings per share. Sell-side analysts anticipate that Harvard Bioscience will post 0.26 EPS for the current year.

In other Harvard Bioscience news, CEO James W. Green acquired 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $3.78 per share, for a total transaction of $113,400.00. Following the transaction, the chief executive officer now owns 2,309,955 shares of the company’s stock, valued at $8,731,629.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James W. Green acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of $3.40 per share, with a total value of $34,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,319,955 shares in the company, valued at approximately $7,887,847. The disclosure for this purchase can be found here. Insiders own 6.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of HBIO. Marshall Wace LLP grew its position in shares of Harvard Bioscience by 594.9% in the 1st quarter. Marshall Wace LLP now owns 86,543 shares of the medical instruments supplier’s stock valued at $373,000 after purchasing an additional 74,089 shares during the period. SG Americas Securities LLC acquired a new position in Harvard Bioscience during the 3rd quarter worth approximately $103,000. Deutsche Bank AG boosted its position in Harvard Bioscience by 8.7% during the 3rd quarter. Deutsche Bank AG now owns 24,931 shares of the medical instruments supplier’s stock worth $174,000 after acquiring an additional 1,992 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Harvard Bioscience during the 3rd quarter worth approximately $74,000. Finally, Barclays PLC boosted its position in Harvard Bioscience by 209.6% during the 3rd quarter. Barclays PLC now owns 16,056 shares of the medical instruments supplier’s stock worth $112,000 after acquiring an additional 10,870 shares during the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

About Harvard Bioscience (Get Rating)

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services that enables fundamental research, discovery, and pre-clinical testing for drug development in the United States and internationally. The company offers cellular and molecular technology instruments, such as syringe and peristaltic pump products, as well as a range of instruments and accessories for tissue and organ-based lab research, including surgical products, infusion systems, and behavior research systems; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, and electroporation and electrofusion instruments.

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