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

Harvard Bioscience (NASDAQ:HBIOGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $4.25 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.49% from the stock’s current price.

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 started coverage on Harvard Bioscience in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

NASDAQ HBIO opened at $3.68 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $6.19. Harvard Bioscience has a 12-month low of $3.36 and a 12-month high of $8.75. The stock has a market capitalization of $151.77 million, a price-to-earnings ratio of -23.00 and a beta of 1.84.

Harvard Bioscience (NASDAQ:HBIOGet Rating) last released its earnings results on Wednesday, May 4th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Harvard Bioscience had a positive return on equity of 9.06% and a negative net margin of 5.38%. During the same period last year, the firm posted $0.03 EPS. Equities analysts forecast that Harvard Bioscience will post 0.26 earnings per share for the current fiscal year.

In other news, CEO James W. Green purchased 10,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average price of $3.40 per share, for a total transaction of $34,000.00. Following the acquisition, the chief executive officer now directly owns 2,319,955 shares in the company, valued at approximately $7,887,847. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James W. Green purchased 30,000 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $3.78 per share, for a total transaction of $113,400.00. Following the acquisition, the chief executive officer now owns 2,309,955 shares in the company, valued at $8,731,629.90. The disclosure for this purchase can be found here. Corporate insiders own 6.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Harvard Bioscience by 47.6% during the 3rd quarter. Royal Bank of Canada now owns 4,452 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 1,435 shares during the last quarter. Citigroup Inc. grew its holdings in Harvard Bioscience by 146.3% during the 3rd quarter. Citigroup Inc. now owns 4,512 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 2,680 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Harvard Bioscience during the 3rd quarter valued at $43,000. Lazard Asset Management LLC grew its holdings in Harvard Bioscience by 230.5% during the 1st quarter. Lazard Asset Management LLC now owns 7,120 shares of the medical instruments supplier’s stock valued at $44,000 after buying an additional 4,966 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Harvard Bioscience by 488.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,551 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 6,267 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

About Harvard Bioscience (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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