The Manufacturers Life Insurance Company Invests $600,000 in Harrow, Inc. $HROW

The Manufacturers Life Insurance Company bought a new position in Harrow, Inc. (NASDAQ:HROW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,138 shares of the company’s stock, valued at approximately $600,000.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Harrow during the 2nd quarter valued at $116,373,000. Vanguard Group Inc. boosted its stake in shares of Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after buying an additional 50,889 shares during the last quarter. Luxor Capital Group LP boosted its stake in shares of Harrow by 22.0% in the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company’s stock worth $39,470,000 after buying an additional 201,859 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Harrow by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 785,089 shares of the company’s stock worth $38,477,000 after acquiring an additional 9,445 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Harrow by 56.4% in the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after acquiring an additional 208,972 shares during the period. Institutional investors own 72.76% of the company’s stock.

Harrow Price Performance

NASDAQ HROW opened at $38.54 on Monday. The business’s fifty day moving average is $40.85 and its 200 day moving average is $39.17. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The company has a market capitalization of $1.44 billion, a PE ratio of -38.54 and a beta of 0.24.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The company had revenue of $70.66 million during the quarter, compared to analysts’ expectations of $70.35 million.

Insider Transactions at Harrow

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider directly owned 11,250 shares in the company, valued at $450,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

HROW has been the topic of a number of recent research reports. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research lowered shares of Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald lowered their price objective 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. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.43.

Harrow Profile

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.