Zacks: Brokerages Set $5.50 Price Target for Harvard Bioscience, Inc. (HBIO)
Shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus target price of $5.50 for the company and are anticipating that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Harvard Bioscience an industry rank of 78 out of 265 based on the ratings given to related companies.
A number of institutional investors have recently made changes to their positions in HBIO. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 20,499 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Harvard Bioscience in the second quarter worth $752,000. Foundry Partners LLC boosted its position in Harvard Bioscience by 10.2% in the third quarter. Foundry Partners LLC now owns 754,820 shares of the medical instruments supplier’s stock worth $2,831,000 after purchasing an additional 70,045 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in Harvard Bioscience by 80.7% in the third quarter. Granahan Investment Management Inc. MA now owns 537,467 shares of the medical instruments supplier’s stock worth $2,016,000 after purchasing an additional 240,055 shares during the last quarter. Finally, First Light Asset Management LLC boosted its position in Harvard Bioscience by 11.5% in the second quarter. First Light Asset Management LLC now owns 3,572,196 shares of the medical instruments supplier’s stock worth $9,109,000 after purchasing an additional 367,711 shares during the last quarter. Institutional investors and hedge funds own 61.68% of the company’s stock.
Shares of Harvard Bioscience (NASDAQ HBIO) traded down $0.02 on Tuesday, hitting $3.20. 27,000 shares of the stock traded hands, compared to its average volume of 62,854. Harvard Bioscience has a 12 month low of $2.25 and a 12 month high of $3.90. The firm has a market cap of $109.87, a PE ratio of -35.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.40 and a quick ratio of 1.87.
Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings results on Thursday, October 26th. The medical instruments supplier reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. Harvard Bioscience had a positive return on equity of 1.11% and a negative net margin of 3.16%. The firm had revenue of $25.05 million for the quarter, compared to analyst estimates of $24.60 million. equities research analysts forecast that Harvard Bioscience will post 0.05 earnings per share for the current fiscal year.
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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