Harvard Bioscience (NASDAQ:HBIO) Posts Earnings Results, Beats Estimates By $0.07 EPS

Harvard Bioscience (NASDAQ:HBIO) posted its quarterly earnings data on Tuesday. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07, FiscalAI reports. The business had revenue of $22.73 million during the quarter, compared to the consensus estimate of $21.45 million. Harvard Bioscience had a negative net margin of 11.86% and a negative return on equity of 29.72%.

Here are the key takeaways from Harvard Bioscience’s conference call:

• Second-quarter revenue rose 11% year over year to $22.7 million, exceeding guidance, driven by CRO demand, distributor performance, telemetry, electroporation, and other CMT products. Management raised full-year 2026 revenue growth guidance to 3%-5% from 2%-4%.
• Adjusted gross margin declined to 57% in the quarter due to a less favorable mix, including stronger CMT and China sales. The company lowered its full-year adjusted gross margin outlook by one percentage point to 57%-59%.
• Recurring revenue increased to 55% of first-half revenue, supported by consumables, software, and service contracts, while new product innovation revenue contributed 11% versus 3% a year ago. Management is targeting 60% recurring revenue over the long term.
• Project Viking remains on schedule, with two product lines transitioned in the second quarter and two more planned for the third quarter. The manufacturing consolidation is expected to generate $3 million in annual cost savings in 2027 and $4 million thereafter.
• Operating cash flow turned negative at $0.3 million for the first six months, compared with $5.7 million generated in the prior-year period, largely due to inventory builds and higher interest costs. The company ended the quarter with $6.5 million in cash and $33.5 million of net debt.

Harvard Bioscience Stock Performance

Shares of HBIO stock opened at $6.17 on Thursday. The company has a market capitalization of $27.83 million, a price-to-earnings ratio of -2.67 and a beta of 1.49. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.06 and a current ratio of 1.99. Harvard Bioscience has a 52 week low of $3.75 and a 52 week high of $9.40. The company has a 50-day simple moving average of $6.14 and a 200 day simple moving average of $5.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in Harvard Bioscience by 44.4% in the 4th quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after acquiring an additional 11,948 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Harvard Bioscience by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 460,793 shares of the medical instruments supplier’s stock worth $308,000 after purchasing an additional 18,923 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Harvard Bioscience by 291.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock valued at $33,000 after buying an additional 37,057 shares during the period. XTX Topco Ltd acquired a new stake in shares of Harvard Bioscience in the fourth quarter valued at about $26,000. Finally, Jane Street Group LLC raised its position in shares of Harvard Bioscience by 491.9% during the second quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 58,785 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

Analysts Set New Price Targets

HBIO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Harvard Bioscience in a report on Wednesday, June 24th. Benchmark lifted their price objective on Harvard Bioscience from $6.00 to $7.50 and gave the company a “speculative buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.75.

Harvard Bioscience Company Profile

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.