Harvard Bioscience (NASDAQ:HBIO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Harvard Bioscience (NASDAQ:HBIO) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Zacks.com reports. The firm currently has $3.00 target price on the medical instruments supplier’s stock.

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

HBIO has been the subject of several other research reports. ValuEngine upgraded shares of Harvard Bioscience from a hold rating to a buy rating in a research note on Wednesday, October 2nd. Benchmark reiterated a buy rating on shares of Harvard Bioscience in a research note on Friday, July 19th. Finally, Janney Montgomery Scott lowered shares of Harvard Bioscience from a buy rating to a neutral rating and set a $2.00 target price for the company. in a research note on Monday, July 8th.

NASDAQ HBIO opened at $2.92 on Friday. Harvard Bioscience has a 1 year low of $1.51 and a 1 year high of $4.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.52 and a quick ratio of 1.30. The firm has a market cap of $105.40 million, a price-to-earnings ratio of 19.47 and a beta of 1.54. The company has a fifty day moving average price of $2.95 and a 200-day moving average price of $2.71.

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

In related news, Director Katherine A. Eade purchased 39,915 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $2.48 per share, with a total value of $98,989.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James W. Green purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $2.47 per share, for a total transaction of $49,400.00. The disclosure for this purchase can be found here. Insiders purchased a total of 112,877 shares of company stock worth $293,742 over the last three months. 5.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Pasadena Private Wealth LLC purchased a new position in shares of Harvard Bioscience in the 3rd quarter worth about $78,000. Assenagon Asset Management S.A. boosted its holdings in shares of Harvard Bioscience by 3,295.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 440,346 shares of the medical instruments supplier’s stock worth $1,354,000 after buying an additional 427,379 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in 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 purchasing an additional 218,142 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new stake in Harvard Bioscience during the second quarter valued at about $1,114,000. Finally, Susquehanna International Group LLP purchased a new stake in Harvard Bioscience during the second quarter valued at about $34,000. 66.06% of the stock is currently owned by institutional investors.

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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