Janney Montgomery Scott cut shares of Harvard Bioscience (NASDAQ:HBIO) from a buy rating to a neutral rating in a research note released on Monday, Briefing.com Automated Import reports. The firm currently has $2.00 price objective on the medical instruments supplier’s stock.
A number of other research analysts also recently issued reports on HBIO. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd.
Shares of NASDAQ HBIO opened at $1.85 on Monday. The stock’s 50-day moving average is $2.06. The firm has a market cap of $69.72 million, a P/E ratio of 12.33 and a beta of 1.48. The company has a current ratio of 2.22, a quick ratio of 1.12 and a debt-to-equity ratio of 0.79. Harvard Bioscience has a 12-month low of $1.51 and a 12-month high of $6.70.
Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $28.23 million for the quarter, compared to the consensus estimate of $28.50 million. Harvard Bioscience had a negative net margin of 1.45% and a positive return on equity of 5.95%. On average, research analysts predict that Harvard Bioscience will post 0.09 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted 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 valued at $33,000 after purchasing an additional 6,538 shares during the period. Mackay Shields LLC lifted its position in Harvard Bioscience by 57.5% during the 4th quarter. Mackay Shields LLC now owns 38,440 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 14,040 shares during the period. Rhumbline Advisers lifted its position in Harvard Bioscience by 47.9% during the 4th quarter. Rhumbline Advisers now owns 48,908 shares of the medical instruments supplier’s stock valued at $156,000 after purchasing an additional 15,839 shares during the period. Bank of America Corp DE lifted 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 valued at $262,000 after purchasing an additional 5,835 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Harvard Bioscience during the 1st quarter valued at about $357,000. Institutional investors own 74.71% of the company’s stock.
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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