StockNews.com Lowers Harvard Bioscience (NASDAQ:HBIO) to Hold

Harvard Bioscience (NASDAQ:HBIO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Harvard Bioscience Stock Down 3.3 %

NASDAQ:HBIO traded down $0.12 during mid-day trading on Thursday, hitting $3.56. The stock had a trading volume of 115,411 shares, compared to its average volume of 88,817. The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. Harvard Bioscience has a twelve month low of $3.44 and a twelve month high of $6.20. The company has a market capitalization of $154.50 million, a PE ratio of -44.50 and a beta of 1.45. The stock has a 50-day simple moving average of $4.11 and a two-hundred day simple moving average of $4.44.

Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings data on Thursday, March 7th. The medical instruments supplier reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $28.15 million during the quarter, compared to analyst estimates of $27.80 million. Harvard Bioscience had a negative net margin of 3.04% and a positive return on equity of 2.75%. On average, equities research analysts anticipate that Harvard Bioscience will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Harvard Bioscience by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 227,002 shares of the medical instruments supplier’s stock valued at $976,000 after purchasing an additional 2,758 shares in the last quarter. Strs Ohio boosted its holdings in shares of Harvard Bioscience by 37.0% in the 3rd quarter. Strs Ohio now owns 125,400 shares of the medical instruments supplier’s stock valued at $539,000 after buying an additional 33,900 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Harvard Bioscience in the 3rd quarter valued at $124,000. AMH Equity Ltd raised its stake in Harvard Bioscience by 7.1% during the 3rd quarter. AMH Equity Ltd now owns 2,141,353 shares of the medical instruments supplier’s stock worth $9,208,000 after acquiring an additional 141,353 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its position in Harvard Bioscience by 1.9% in the third quarter. Heartland Advisors Inc. now owns 866,467 shares of the medical instruments supplier’s stock valued at $3,726,000 after acquiring an additional 16,467 shares during the last quarter. Hedge funds and other institutional investors own 80.87% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services for life science applications in the United States and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings.