Harvard Bioscience (NASDAQ:HBIO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Harvard Bioscience (NASDAQ:HBIO) from a sell rating to a hold rating in a report published 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, ValuEngine cut shares of Harvard Bioscience from a hold rating to a sell rating in a research report on Saturday, May 4th.

Shares of NASDAQ HBIO opened at $1.90 on Wednesday. Harvard Bioscience has a fifty-two week low of $1.90 and a fifty-two week high of $6.70. The company has a market cap of $75.38 million, a PE ratio of 16.67 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.12 and a current ratio of 2.22. The company has a 50-day simple moving average of $2.13.

Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Harvard Bioscience had a negative net margin of 1.45% and a positive return on equity of 5.95%. The business had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $28.50 million. As a group, equities analysts predict that Harvard Bioscience will post 0.09 EPS for the current fiscal year.

In other Harvard Bioscience news, CEO Jeffrey Duchemin sold 6,332 shares of Harvard Bioscience stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $4.50, for a total transaction of $28,494.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.40% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of HBIO. Royce & Associates LP lifted its position in shares of Harvard Bioscience by 8.2% during the 4th quarter. Royce & Associates LP now owns 1,730,200 shares of the medical instruments supplier’s stock worth $5,502,000 after buying an additional 130,500 shares in the last quarter. Alambic Investment Management L.P. lifted its position in shares of Harvard Bioscience by 415.8% during the 4th quarter. Alambic Investment Management L.P. now owns 135,599 shares of the medical instruments supplier’s stock worth $431,000 after buying an additional 109,312 shares in the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Harvard Bioscience during the 1st quarter worth approximately $469,000. Falcon Point Capital LLC bought a new position in shares of Harvard Bioscience during the 1st quarter worth approximately $450,000. Finally, Wedge Capital Management L L P NC lifted its position in shares of Harvard Bioscience by 64.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 236,095 shares of the medical instruments supplier’s stock worth $1,018,000 after buying an additional 92,152 shares in the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

Harvard Bioscience Company Profile

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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