Harvard Bioscience (NASDAQ:HBIO) Upgraded by Zacks Investment Research to “Hold”

Harvard Bioscience (NASDAQ:HBIOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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

Separately, StockNews.com initiated coverage on shares of Harvard Bioscience in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Harvard Bioscience stock opened at $3.58 on Wednesday. Harvard Bioscience has a 52-week low of $3.36 and a 52-week high of $8.75. The business’s 50 day simple moving average is $5.72. The firm has a market cap of $147.64 million, a price-to-earnings ratio of -22.37 and a beta of 1.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.34 and a current ratio of 2.18.

Harvard Bioscience (NASDAQ:HBIOGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical instruments supplier reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Harvard Bioscience had a negative net margin of 5.38% and a positive return on equity of 9.06%. During the same quarter last year, the business earned $0.03 earnings per share. Analysts predict that Harvard Bioscience will post 0.24 EPS for the current year.

In other Harvard Bioscience news, CEO James W. Green acquired 30,000 shares of the stock in a transaction on Friday, May 6th. The shares were bought at an average cost of $3.78 per share, with a total value of $113,400.00. Following the transaction, the chief executive officer now owns 2,309,955 shares of the company’s stock, valued at approximately $8,731,629.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James W. Green acquired 10,000 shares of the stock in a transaction on Monday, May 9th. The shares were acquired at an average cost of $3.40 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,319,955 shares in the company, valued at approximately $7,887,847. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of HBIO. Marshall Wace LLP grew its position in Harvard Bioscience by 594.9% during the 1st quarter. Marshall Wace LLP now owns 86,543 shares of the medical instruments supplier’s stock worth $373,000 after purchasing an additional 74,089 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Harvard Bioscience in the third quarter valued at about $103,000. Deutsche Bank AG boosted its holdings in shares of Harvard Bioscience by 8.7% in the third quarter. Deutsche Bank AG now owns 24,931 shares of the medical instruments supplier’s stock valued at $174,000 after acquiring an additional 1,992 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Harvard Bioscience in the third quarter valued at about $74,000. Finally, Barclays PLC boosted its holdings in shares of Harvard Bioscience by 209.6% in the third quarter. Barclays PLC now owns 16,056 shares of the medical instruments supplier’s stock valued at $112,000 after acquiring an additional 10,870 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors.

Harvard Bioscience Company Profile (Get Rating)

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services that enables fundamental research, discovery, and pre-clinical testing for drug development in the United States and internationally. The company offers cellular and molecular technology instruments, such as syringe and peristaltic pump products, as well as a range of instruments and accessories for tissue and organ-based lab research, including surgical products, infusion systems, and behavior research systems; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, and electroporation and electrofusion instruments.

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