Blackhawk Capital Partners LLC Has $6.08 Million Stake in Harrow, Inc. $HROW

Blackhawk Capital Partners LLC raised its holdings in Harrow, Inc. (NASDAQ:HROW) by 27.9% during the first quarter, HoldingsChannel reports. The firm owned 172,332 shares of the company’s stock after acquiring an additional 37,574 shares during the quarter. Harrow accounts for 2.2% of Blackhawk Capital Partners LLC’s holdings, making the stock its 10th largest position. Blackhawk Capital Partners LLC’s holdings in Harrow were worth $6,076,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in shares of Harrow during the 1st quarter worth $1,829,000. Patriot Financial Group Insurance Agency LLC grew its position in Harrow by 80.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 13,900 shares of the company’s stock valued at $490,000 after acquiring an additional 6,200 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Harrow by 13.0% in the first quarter. Pictet Asset Management Holding SA now owns 5,711 shares of the company’s stock valued at $201,000 after acquiring an additional 655 shares during the last quarter. Brookstone Capital Management acquired a new position in Harrow during the first quarter worth about $1,018,000. Finally, SG Americas Securities LLC raised its stake in Harrow by 47.3% during the first quarter. SG Americas Securities LLC now owns 13,817 shares of the company’s stock worth $487,000 after acquiring an additional 4,435 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Harrow in a research report on Thursday, March 19th. Nomura downgraded shares of Harrow to a “neutral” rating in a research note on Wednesday, March 18th. BTIG Research reaffirmed a “buy” rating and set a $63.00 target price on shares of Harrow in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Harrow presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Insider Activity

In related news, CFO Andrew R. Boll purchased 3,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $29.90 per share, with a total value of $104,650.00. Following the completion of the purchase, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. This represents a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adrienne L. Graves acquired 1,000 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $31,070. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 12.80% of the company’s stock.

Harrow Trading Up 3.8%

HROW opened at $42.93 on Thursday. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The company’s 50 day moving average price is $37.78 and its two-hundred day moving average price is $41.12. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -104.70 and a beta of 0.26.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same period in the previous year, the business posted ($0.38) EPS. As a group, research analysts predict that Harrow, Inc. will post 0.29 earnings per share for the current year.

About Harrow

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.