Zacks: Harvard Bioscience, Inc. (NASDAQ:HBIO) Receives Consensus Rating of “Buy” from Analysts

Harvard Bioscience, Inc. (NASDAQ:HBIO) has earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Brokers have set a 12-month consensus price target of $3.75 for the company and are anticipating that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Harvard Bioscience an industry rank of 14 out of 255 based on the ratings given to its competitors.

A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine downgraded shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Benchmark downgraded shares of Harvard Bioscience to a “buy” rating in a research report on Monday, December 9th.

Shares of HBIO stock traded up $0.03 during midday trading on Thursday, reaching $3.17. 472 shares of the company were exchanged, compared to its average volume of 61,653. Harvard Bioscience has a 12 month low of $1.51 and a 12 month high of $4.66. The company has a market cap of $121.82 million, a P/E ratio of 21.13 and a beta of 1.52. The company’s 50 day moving average price is $2.98 and its two-hundred day moving average price is $2.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.31 and a current ratio of 2.41.

Harvard Bioscience (NASDAQ:HBIO) last posted its quarterly earnings results on Tuesday, November 5th. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Harvard Bioscience had a negative net margin of 2.45% and a positive return on equity of 5.22%. The company had revenue of $27.42 million during the quarter, compared to the consensus estimate of $28.50 million. As a group, sell-side analysts predict that Harvard Bioscience will post 0.12 earnings per share for the current year.

In other Harvard Bioscience news, Director Bertrand Loy bought 12,855 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $2.59 per share, for a total transaction of $33,294.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James W. Green purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $2.61 per share, with a total value of $26,100.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 102,439 shares of company stock worth $178,492. 5.40% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in Harvard Bioscience by 808.7% during the 2nd quarter. Morgan Stanley now owns 68,414 shares of the medical instruments supplier’s stock worth $137,000 after buying an additional 60,885 shares during the period. Millennium Management LLC grew its position in shares of Harvard Bioscience by 982.2% in the 3rd quarter. Millennium Management LLC now owns 645,331 shares of the medical instruments supplier’s stock valued at $1,984,000 after purchasing an additional 585,701 shares during the period. Engine Capital Management LP bought a new stake in Harvard Bioscience during the 2nd quarter worth approximately $3,736,000. Wedge Capital Management L L P NC acquired a new stake in Harvard Bioscience during the 3rd quarter worth approximately $1,071,000. Finally, Monarch Partners Asset Management LLC lifted its stake in Harvard Bioscience by 13.4% in the third quarter. Monarch Partners Asset Management LLC now owns 123,470 shares of the medical instruments supplier’s stock valued at $380,000 after buying an additional 14,630 shares in the last quarter. 64.31% of the stock is currently owned by institutional investors.

About Harvard Bioscience

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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