Harvard Bioscience (NASDAQ:HBIO) Price Target Raised to $7.50

Harvard Bioscience (NASDAQ:HBIO) had its price objective upped by Benchmark from $6.00 to $7.50 in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have a speculative buy rating on the medical instruments supplier’s stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Harvard Bioscience in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.75.

Harvard Bioscience Price Performance

Shares of NASDAQ HBIO opened at $6.66 on Wednesday. The firm’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $5.83. Harvard Bioscience has a 12 month low of $3.75 and a 12 month high of $9.40. The stock has a market capitalization of $30.30 million, a price-to-earnings ratio of -2.88 and a beta of 1.49. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.87 and a quick ratio of 1.06.

Harvard Bioscience (NASDAQ:HBIO) last released its quarterly earnings results on Tuesday, August 11th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Harvard Bioscience had a negative net margin of 11.86% and a negative return on equity of 33.13%. The firm had revenue of $22.73 million for the quarter, compared to analysts’ expectations of $21.45 million.

Institutional Investors Weigh In On Harvard Bioscience

Institutional investors have recently made changes to their positions in the company. Weber Capital Management LLC ADV bought a new stake in Harvard Bioscience during the fourth quarter worth approximately $2,140,000. Meros Investment Management LP boosted its stake in Harvard Bioscience by 32.6% during the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock valued at $814,000 after purchasing an additional 299,369 shares during the period. Corsair Capital Management L.P. grew its holdings in Harvard Bioscience by 1,008.7% in the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock valued at $741,000 after buying an additional 1,008,692 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Harvard Bioscience by 7.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock valued at $606,000 after buying an additional 78,276 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Harvard Bioscience by 17.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,021,241 shares of the medical instruments supplier’s stock worth $683,000 after buying an additional 152,763 shares during the period. 80.87% of the stock is currently owned by institutional investors and hedge funds.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.