Principal Financial Group Inc. Purchases Shares of 51,869 Harrow, Inc. $HROW

Principal Financial Group Inc. purchased a new position in Harrow, Inc. (NASDAQ:HROW) during the 1st quarter, Holdings Channel reports. The firm purchased 51,869 shares of the company’s stock, valued at approximately $1,829,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Harrow by 13.1% during the fourth quarter. Larson Financial Group LLC now owns 2,446 shares of the company’s stock valued at $120,000 after buying an additional 284 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Harrow by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,547 shares of the company’s stock worth $505,000 after buying an additional 341 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Harrow by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock worth $88,000 after buying an additional 369 shares in the last quarter. Captrust Financial Advisors grew its position in Harrow by 0.5% during the fourth quarter. Captrust Financial Advisors now owns 69,959 shares of the company’s stock worth $3,428,000 after buying an additional 376 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Harrow by 1.7% during the third quarter. Alliancebernstein L.P. now owns 29,520 shares of the company’s stock valued at $1,422,000 after acquiring an additional 500 shares during the period. Institutional investors own 72.76% of the company’s stock.

Insider Transactions at Harrow

In related news, CFO Andrew R. Boll acquired 3,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $29.90 per share, with a total value of $104,650.00. Following the acquisition, the chief financial officer directly owned 814,679 shares in the company, valued at $24,358,902.10. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Adrienne L. Graves acquired 1,000 shares of the stock in a transaction on Monday, May 18th. The stock was bought at an average price of $31.07 per share, with a total value of $31,070.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $31,070. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HROW. B. Riley Financial reaffirmed a “buy” rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Wall Street Zen lowered Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald lowered their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.43.

Harrow Trading Up 0.7%

HROW stock opened at $38.94 on Friday. The business has a fifty day moving average price of $39.69 and a 200 day moving average price of $40.42. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -94.97 and a beta of 0.26.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same period in the prior year, the firm posted ($0.38) EPS. Analysts expect that Harrow, Inc. will post 0.29 EPS for the current fiscal year.

Harrow Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.