ValuEngine Downgrades Harvard Bioscience (NASDAQ:HBIO) to Hold

Harvard Bioscience (NASDAQ:HBIO) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

Other analysts also recently issued reports about the company. Benchmark reissued a “buy” rating on shares of Harvard Bioscience in a report on Friday, July 19th. Janney Montgomery Scott cut Harvard Bioscience from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, July 8th. Finally, Zacks Investment Research upgraded Harvard Bioscience from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Friday, October 18th.

HBIO stock opened at $2.78 on Tuesday. Harvard Bioscience has a 52-week low of $1.51 and a 52-week high of $4.74. 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 business has a fifty day moving average of $2.96 and a two-hundred day moving average of $2.70. The stock has a market cap of $106.53 million, a price-to-earnings ratio of 18.53 and a beta of 1.54.

Harvard Bioscience (NASDAQ:HBIO) last released its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm had revenue of $29.58 million during the quarter, compared to analysts’ expectations of $29.30 million. Harvard Bioscience had a positive return on equity of 5.24% and a negative net margin of 0.46%. As a group, sell-side analysts anticipate that Harvard Bioscience will post 0.11 EPS for the current year.

In other Harvard Bioscience news, Director Bertrand Loy bought 15,590 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $3.01 per share, with a total value of $46,925.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas W. Loewald bought 20,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $2.53 per share, for a total transaction of $50,600.00. The disclosure for this purchase can be found here. Insiders purchased 112,877 shares of company stock valued at $293,742 over the last quarter. Insiders own 5.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Engine Capital Management LP bought a new position in Harvard Bioscience in the second quarter worth about $3,736,000. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Harvard Bioscience by 18.9% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,373,518 shares of the medical instruments supplier’s stock valued at $4,224,000 after buying an additional 218,142 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Harvard Bioscience by 36.5% during the second quarter. Acadian Asset Management LLC now owns 1,052,028 shares of the medical instruments supplier’s stock valued at $2,103,000 after buying an additional 281,293 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Harvard Bioscience by 45.0% during the second quarter. Renaissance Technologies LLC now owns 901,000 shares of the medical instruments supplier’s stock valued at $1,802,000 after buying an additional 279,500 shares during the last quarter. Finally, Foundry Partners LLC raised its holdings in shares of Harvard Bioscience by 37.5% during the second quarter. Foundry Partners LLC now owns 720,540 shares of the medical instruments supplier’s stock valued at $1,441,000 after buying an additional 196,375 shares during the last quarter. 66.06% of the stock is currently owned by hedge funds and other institutional investors.

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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