Janney Montgomery Scott Lowers Harvard Bioscience (NASDAQ:HBIO) to Neutral

Janney Montgomery Scott cut shares of Harvard Bioscience (NASDAQ:HBIO) from a buy rating to a neutral rating in a research note issued to investors on Monday, Briefing.com Automated Import reports. They currently have $2.00 price target on the medical instruments supplier’s stock.

Several other equities analysts also recently weighed in on the company. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd.

NASDAQ HBIO remained flat at $$1.85 on Monday. The company had a trading volume of 752,505 shares, compared to its average volume of 281,895. The stock has a market capitalization of $69.72 million, a price-to-earnings ratio of 12.33 and a beta of 1.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.12 and a current ratio of 2.22. The company has a 50-day moving average price of $2.06. Harvard Bioscience has a 12 month low of $1.51 and a 12 month high of $6.70.

Harvard Bioscience (NASDAQ:HBIO) last released its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $28.23 million for the quarter, compared to the consensus estimate of $28.50 million. Harvard Bioscience had a positive return on equity of 5.95% and a negative net margin of 1.45%. Research analysts forecast that Harvard Bioscience will post 0.09 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Harvard Bioscience by 47.9% in the 4th quarter. Rhumbline Advisers now owns 48,908 shares of the medical instruments supplier’s stock valued at $156,000 after acquiring an additional 15,839 shares during the last quarter. BlackRock Inc. increased its stake in shares of Harvard Bioscience by 2.5% in the 4th quarter. BlackRock Inc. now owns 3,067,176 shares of the medical instruments supplier’s stock valued at $9,754,000 after acquiring an additional 73,423 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Harvard Bioscience by 7.8% in the 4th quarter. Bank of New York Mellon Corp now owns 110,661 shares of the medical instruments supplier’s stock valued at $352,000 after acquiring an additional 8,013 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Harvard Bioscience by 5.3% in the 4th quarter. GSA Capital Partners LLP now owns 191,657 shares of the medical instruments supplier’s stock valued at $609,000 after acquiring an additional 9,600 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Harvard Bioscience by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 352,825 shares of the medical instruments supplier’s stock valued at $1,121,000 after acquiring an additional 18,372 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.

About Harvard Bioscience

Harvard Bioscience, Inc provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers physiology, cell, and molecular instruments, such as traditional syringe pump and peristaltic pump products, as well as a range of instruments and accessories for tissue, organ, and animal based lab research under the Harvard Apparatus, CMA Microdialysis, Panlab, Coulbourn, and Hugo Sachs brands; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, sample preparation plates and columns, and electroporation and electrofusion instruments under the Biochrom, BioDrop, Hoefer, Scie-plas, QuikPrep, and BTX brands.

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