Zacks: Brokerages Anticipate Harvard Bioscience, Inc. (NASDAQ:HBIO) Will Post Earnings of $0.03 Per Share

Wall Street analysts predict that Harvard Bioscience, Inc. (NASDAQ:HBIO) will announce $0.03 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Harvard Bioscience’s earnings. Harvard Bioscience posted earnings of $0.05 per share during the same quarter last year, which would suggest a negative year over year growth rate of 40%. The company is expected to announce its next earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Harvard Bioscience will report full year earnings of $0.23 per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of $0.35 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Harvard Bioscience.

Harvard Bioscience (NASDAQ:HBIO) last released its quarterly earnings data on Thursday, May 6th. The medical instruments supplier reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. Harvard Bioscience had a negative net margin of 6.51% and a positive return on equity of 4.29%.

HBIO has been the topic of several analyst reports. Zacks Investment Research lowered shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, May 6th. KeyCorp raised their price target on shares of Harvard Bioscience from $6.00 to $9.00 in a research report on Wednesday, March 10th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Harvard Bioscience currently has an average rating of “Buy” and an average price target of $8.38.

Shares of NASDAQ:HBIO traded up $0.34 during midday trading on Monday, reaching $7.35. The company’s stock had a trading volume of 296,449 shares, compared to its average volume of 227,271. The firm has a market capitalization of $293.68 million, a PE ratio of -40.83 and a beta of 1.73. The company has a quick ratio of 0.98, a current ratio of 2.05 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $6.61 and a 200 day moving average of $4.99. Harvard Bioscience has a twelve month low of $2.56 and a twelve month high of $7.80.

In other Harvard Bioscience news, CEO James W. Green sold 35,000 shares of the stock in a transaction on Friday, March 12th. The shares were sold at an average price of $5.98, for a total transaction of $209,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HBIO. Citigroup Inc. lifted its holdings in Harvard Bioscience by 290.3% during the fourth quarter. Citigroup Inc. now owns 7,177 shares of the medical instruments supplier’s stock valued at $31,000 after purchasing an additional 5,338 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Harvard Bioscience during the fourth quarter valued at $40,000. Credit Suisse AG purchased a new position in Harvard Bioscience during the fourth quarter valued at $47,000. Minot Wealth Management LLC purchased a new position in Harvard Bioscience during the first quarter valued at $66,000. Finally, Trexquant Investment LP purchased a new position in Harvard Bioscience during the first quarter valued at $76,000. 64.87% of the stock is currently owned by institutional investors and hedge funds.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services that enables fundamental research, discovery, and pre-clinical testing for drug development. It offers physiology, cell, and molecular instruments, such as syringe and peristaltic pump products, as well as a range of instruments and accessories for tissue and organ based lab research, including surgical products, infusion systems, and behavior research systems; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, and electroporation and electrofusion instruments.

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