Analysts expect Harvard Bioscience, Inc. (NASDAQ:HBIO) to announce $27.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Harvard Bioscience's earnings. The highest sales estimate is $27.30 million and the lowest is $27.00 million. Harvard Bioscience posted sales of $30.97 million during the same quarter last year, which suggests a negative year over year growth rate of 12.3%. The company is scheduled to issue its next earnings results on Wednesday, February 24th.
According to Zacks, analysts expect that Harvard Bioscience will report full-year sales of $98.30 million for the current year, with estimates ranging from $98.10 million to $98.50 million. For the next year, analysts expect that the business will post sales of $107.25 million, with estimates ranging from $106.00 million to $108.50 million. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for Harvard Bioscience.
Several equities research analysts have commented on HBIO shares. KeyCorp started coverage on Harvard Bioscience in a research note on Monday, November 9th. They set an "overweight" rating for the company. Northland Securities started coverage on Harvard Bioscience in a research note on Wednesday, December 9th. They set an "outperform" rating for the company. Finally, Benchmark upgraded Harvard Bioscience from a "speculative buy" rating to a "buy" rating in a research note on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Harvard Bioscience has an average rating of "Buy" and an average price target of $3.38.
NASDAQ:HBIO opened at $4.69 on Friday. Harvard Bioscience has a 12 month low of $1.39 and a 12 month high of $5.21. The stock has a 50 day moving average of $4.42 and a two-hundred day moving average of $3.76. The company has a current ratio of 2.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The firm has a market cap of $182.80 million, a P/E ratio of -26.06 and a beta of 1.73.
Several hedge funds have recently bought and sold shares of HBIO. BNP Paribas Arbitrage SA grew its position in shares of Harvard Bioscience by 518.8% in the third quarter. BNP Paribas Arbitrage SA now owns 8,743 shares of the medical instruments supplier's stock valued at $26,000 after purchasing an additional 7,330 shares in the last quarter. Citigroup Inc. grew its position in shares of Harvard Bioscience by 290.3% in 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 stake in shares of Harvard Bioscience in the fourth quarter valued at approximately $40,000. Squarepoint Ops LLC purchased a new stake in shares of Harvard Bioscience in the third quarter valued at approximately $75,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Harvard Bioscience in the third quarter valued at approximately $143,000. Institutional investors and hedge funds own 64.87% of the company's stock.
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, organ, and animal based lab research; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, and electroporation and electrofusion instruments.
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