Brokerages Anticipate Harvard Bioscience, Inc. (HBIO) to Announce $0.04 EPS

Harvard Bioscience, Inc. (NASDAQ:HBIO) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price target of $9.50 for the company and are expecting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also assigned Harvard Bioscience an industry rank of 183 out of 255 based on the ratings given to its competitors.

Several analysts have recently commented on the company. Zacks Investment Research raised Harvard Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, July 4th. Benchmark initiated coverage on Harvard Bioscience in a research note on Saturday, June 30th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, ValuEngine raised Harvard Bioscience from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 8th.

Shares of HBIO traded down $0.05 during mid-day trading on Tuesday, hitting $5.60. The company’s stock had a trading volume of 106,459 shares, compared to its average volume of 185,316. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.42 and a quick ratio of 1.26. The stock has a market capitalization of $204.85 million, a P/E ratio of 50.91 and a beta of 1.07. Harvard Bioscience has a 1-year low of $2.95 and a 1-year high of $6.70.

Harvard Bioscience (NASDAQ:HBIO) last posted its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $31.52 million during the quarter, compared to analysts’ expectations of $30.50 million. Harvard Bioscience had a positive return on equity of 4.64% and a negative net margin of 4.46%. research analysts anticipate that Harvard Bioscience will post 0.12 EPS for the current year.

In related news, CFO Robert E. Gagnon sold 141,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $5.23, for a total value of $738,999.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Duchemin sold 14,195 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $5.41, for a total value of $76,794.95. The disclosure for this sale can be found here. Insiders sold a total of 644,985 shares of company stock valued at $3,718,352 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in Harvard Bioscience by 41.7% in the 1st quarter. Russell Investments Group Ltd. now owns 37,058 shares of the medical instruments supplier’s stock valued at $186,000 after purchasing an additional 10,900 shares in the last quarter. Element Capital Management LLC purchased a new position in Harvard Bioscience in the 1st quarter valued at approximately $130,000. C M Bidwell & Associates Ltd. purchased a new position in Harvard Bioscience during the first quarter worth $133,000. Mackay Shields LLC purchased a new position in Harvard Bioscience during the second quarter worth $160,000. Finally, Rhumbline Advisers purchased a new position in Harvard Bioscience during the second quarter worth $164,000. 73.37% of the stock is owned by hedge funds and other institutional investors.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures, and markets scientific instruments, systems, and lab consumables 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, and electroporation instruments that are marketed under the Biochrom, Libra, WPA, BioDrop, Hoefer, Scie-plas, and BTX brand names.

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