Intech Investment Management LLC Reduces Stock Position in Harrow, Inc. $HROW

Intech Investment Management LLC cut its stake in Harrow, Inc. (NASDAQ:HROW) by 28.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,011 shares of the company’s stock after selling 6,798 shares during the quarter. Intech Investment Management LLC’s holdings in Harrow were worth $520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new position in Harrow in the 1st quarter worth about $32,000. State of Wyoming bought a new stake in shares of Harrow during the first quarter valued at about $97,000. Strs Ohio purchased a new stake in shares of Harrow in the first quarter worth about $149,000. SJS Investment Consulting Inc. boosted its position in shares of Harrow by 97.6% in the second quarter. SJS Investment Consulting Inc. now owns 6,073 shares of the company’s stock valued at $185,000 after acquiring an additional 3,000 shares during the period. Finally, Maridea Wealth Management LLC bought a new position in shares of Harrow in the second quarter valued at approximately $202,000. 72.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HROW shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th. Zacks Research cut shares of Harrow from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. LADENBURG THALM/SH SH increased their price objective on Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. BTIG Research restated a “buy” rating and set a $63.00 target price on shares of Harrow in a research report on Wednesday, September 24th. Finally, HC Wainwright upped their target price on Harrow from $64.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.43.

Harrow Stock Performance

Harrow stock opened at $41.68 on Friday. Harrow, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $50.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. The stock has a market cap of $1.54 billion, a P/E ratio of -166.72 and a beta of 0.19. The firm’s fifty day moving average price is $40.50 and its 200-day moving average price is $36.06.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Harrow had a negative net margin of 4.49% and a negative return on equity of 2.18%. The company had revenue of $71.64 million during the quarter, compared to analyst estimates of $73.70 million. On average, equities research analysts expect that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Harrow Profile

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.