Harvard Bioscience, Inc. (HBIO) Downgraded by Zacks Investment Research

Harvard Bioscience, Inc. (NASDAQ:HBIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, July 21st.

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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 Harvard Bioscience from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $4.75.

Shares of Harvard Bioscience (NASDAQ HBIO) remained flat at $3.00 on Friday. 16,222 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $2.72 and a 200-day moving average price of $2.66. Harvard Bioscience has a 52-week low of $2.25 and a 52-week high of $3.30. The company’s market cap is $104.51 million.

Harvard Bioscience (NASDAQ:HBIO) last released its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $25.21 million for the quarter, compared to analyst estimates of $24 million. Harvard Bioscience had a positive return on equity of 1.45% and a negative net margin of 4.37%. On average, equities research analysts anticipate that Harvard Bioscience will post $0.13 earnings per share for the current fiscal year.

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In other Harvard Bioscience news, Director Earl R. Lewis purchased 12,238 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were bought at an average price of $2.35 per share, for a total transaction of $28,759.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Duchemin purchased 22,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was acquired at an average price of $2.76 per share, for a total transaction of $60,720.00. The disclosure for this purchase can be found here. Insiders acquired a total of 52,950 shares of company stock valued at $135,275 over the last ninety days. Insiders own 8.80% of the company’s stock.

Large investors have recently modified their holdings of the company. Glacier Peak Capital LLC raised its stake in shares of Harvard Bioscience by 9.8% in the second quarter. Glacier Peak Capital LLC now owns 1,316,993 shares of the medical instruments supplier’s stock worth $3,358,000 after buying an additional 117,418 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Harvard Bioscience by 2.8% in the second quarter. Foundry Partners LLC now owns 684,775 shares of the medical instruments supplier’s stock worth $1,746,000 after buying an additional 18,575 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Harvard Bioscience by 38.7% in the second quarter. Essex Investment Management Co. LLC now owns 429,460 shares of the medical instruments supplier’s stock worth $1,095,000 after buying an additional 119,878 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Harvard Bioscience by 5.9% in the first quarter. Renaissance Technologies LLC now owns 560,500 shares of the medical instruments supplier’s stock worth $1,457,000 after buying an additional 31,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Harvard Bioscience by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,631,348 shares of the medical instruments supplier’s stock worth $4,242,000 after buying an additional 20,499 shares in the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.

Harvard Bioscience Company Profile

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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