Harvard Bioscience (NASDAQ:HBIO) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Harvard Bioscience (NASDAQ:HBIO) from a sell rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

Several other brokerages have also issued reports on HBIO. Janney Montgomery Scott lowered Harvard Bioscience from a buy rating to a neutral rating and set a $2.00 price target on the stock. in a research note on Monday, July 8th. Benchmark reiterated a buy rating on shares of Harvard Bioscience in a research note on Friday, July 19th. Finally, Zacks Investment Research lowered Harvard Bioscience from a buy rating to a hold rating in a research note on Tuesday, July 30th.

Shares of HBIO traded up $0.04 during midday trading on Wednesday, hitting $3.11. The company’s stock had a trading volume of 135,300 shares, compared to its average volume of 300,204. Harvard Bioscience has a one year low of $1.51 and a one year high of $5.75. The company’s fifty day simple moving average is $2.51 and its two-hundred day simple moving average is $2.89. The company has a quick ratio of 1.30, a current ratio of 2.52 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $114.14 million, a price-to-earnings ratio of 20.73 and a beta of 1.53.



Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Harvard Bioscience had a positive return on equity of 5.24% and a negative net margin of 0.46%. The company had revenue of $29.58 million for the quarter, compared to analyst estimates of $29.30 million. On average, research analysts predict that Harvard Bioscience will post 0.11 earnings per share for the current year.

In other news, Director Katherine A. Eade acquired 39,915 shares of Harvard Bioscience stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $2.48 per share, for a total transaction of $98,989.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James W. Green acquired 20,000 shares of Harvard Bioscience stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $2.47 per share, for a total transaction of $49,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 89,915 shares of company stock worth $223,889. Corporate insiders own 5.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Harvard Bioscience by 7.6% during the 4th quarter. Bank of America Corp DE now owns 82,642 shares of the medical instruments supplier’s stock worth $262,000 after acquiring an additional 5,835 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Harvard Bioscience by 635.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,567 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 6,538 shares during the last quarter. Cadence Capital Management LLC grew its position in Harvard Bioscience by 1.8% during the 1st quarter. Cadence Capital Management LLC now owns 520,945 shares of the medical instruments supplier’s stock worth $2,245,000 after acquiring an additional 9,109 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 11,011 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Harvard Bioscience by 3.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 371,868 shares of the medical instruments supplier’s stock worth $745,000 after acquiring an additional 12,522 shares during the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.

Harvard Bioscience Company Profile

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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