ValuEngine Upgrades Harvard Bioscience (NASDAQ:HBIO) to “Hold”

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Harvard Bioscience (NASDAQ:HBIO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, ValuEngine reports.

Several other research firms also recently issued reports on HBIO. Zacks Investment Research downgraded shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating on shares of Harvard Bioscience in a research note on Friday, July 19th. Finally, Janney Montgomery Scott downgraded shares of Harvard Bioscience from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research note on Monday, July 8th.

Shares of Harvard Bioscience stock opened at $3.09 on Wednesday. Harvard Bioscience has a fifty-two week low of $1.51 and a fifty-two week high of $5.75. 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 capitalization of $111.09 million, a P/E ratio of 20.60 and a beta of 1.53. The company’s 50 day moving average price is $2.51 and its two-hundred day moving average price is $2.89.

Harvard Bioscience (NASDAQ:HBIO) last released 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. The firm had revenue of $29.58 million during the quarter, compared to the consensus estimate of $29.30 million. Harvard Bioscience had a negative net margin of 0.46% and a positive return on equity of 5.24%. On average, analysts expect that Harvard Bioscience will post 0.11 earnings per share for the current year.

In other news, Director Katherine A. Eade bought 39,915 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $2.48 per share, with a total value of $98,989.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James W. Green bought 20,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $2.47 per share, with a total value of $49,400.00. The disclosure for this purchase can be found here. Insiders have purchased 89,915 shares of company stock valued at $223,889 in the last three months. 5.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dalton Greiner Hartman Maher & Co. increased its stake in Harvard Bioscience by 1,164.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,117,421 shares of the medical instruments supplier’s stock valued at $2,235,000 after purchasing an additional 1,029,052 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Harvard Bioscience by 635.4% during the first quarter. BNP Paribas Arbitrage SA now owns 7,567 shares of the medical instruments supplier’s stock valued at $33,000 after buying an additional 6,538 shares during the last quarter. Acadian Asset Management LLC grew 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. Foundry Partners LLC boosted its holdings in Harvard Bioscience by 37.5% during the second quarter. Foundry Partners LLC now owns 720,540 shares of the medical instruments supplier’s stock worth $1,441,000 after purchasing an additional 196,375 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its holdings in Harvard Bioscience by 57.3% during the first quarter. Alambic Investment Management L.P. now owns 213,258 shares of the medical instruments supplier’s stock worth $919,000 after purchasing an additional 77,659 shares during the last quarter. 65.39% of the stock is owned by hedge funds and other 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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