Zacks Investment Research downgraded shares of Harvard Bioscience (NASDAQ:HBIO) from a buy rating to a hold rating in a research note released on Friday morning.
According to Zacks, “HARVARD BIOSCIENCE develops, manufactures and markets tools used in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. “
Several other brokerages have also issued reports on HBIO. Janney Montgomery Scott lifted their price target on Harvard Bioscience from $5.00 to $8.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Benchmark lifted their price target on Harvard Bioscience from $6.00 to $10.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $7.75.
Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings results on Thursday, March 1st. The medical instruments supplier reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. Harvard Bioscience had a positive return on equity of 2.38% and a negative net margin of 0.85%. The firm had revenue of $27.46 million during the quarter, compared to analyst estimates of $26.60 million. sell-side analysts forecast that Harvard Bioscience will post 0.11 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Harvard Bioscience by 5.2% in the second quarter. Northern Trust Corp now owns 86,205 shares of the medical instruments supplier’s stock worth $220,000 after buying an additional 4,260 shares during the period. AXA increased its holdings in shares of Harvard Bioscience by 16.7% in the fourth quarter. AXA now owns 167,500 shares of the medical instruments supplier’s stock worth $553,000 after buying an additional 24,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Harvard Bioscience by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,540,021 shares of the medical instruments supplier’s stock worth $3,927,000 after buying an additional 25,582 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Harvard Bioscience by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,740,790 shares of the medical instruments supplier’s stock worth $6,528,000 after buying an additional 30,068 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Harvard Bioscience by 2,013.7% in the fourth quarter. Wells Fargo & Company MN now owns 32,446 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 30,911 shares during the period. Hedge funds and other institutional investors own 63.54% of the company’s stock.
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About Harvard Bioscience
Harvard Bioscience, Inc is a developer, manufacturer and marketer of a range of scientific instruments, systems and lab consumables used for basic research, drug discovery, clinical and environmental testing. The Company’s products are sold to thousands of researchers in over 100 countries through its global sales organization, Websites, catalogs and through distributors.
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