Cadence Capital Management LLC purchased a new position in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 352,396 shares of the medical instruments supplier’s stock, valued at approximately $1,850,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royce & Associates LP raised its holdings in shares of Harvard Bioscience by 20.9% during the 2nd quarter. Royce & Associates LP now owns 1,565,000 shares of the medical instruments supplier’s stock worth $8,373,000 after acquiring an additional 270,306 shares during the period. First Light Asset Management LLC raised its holdings in shares of Harvard Bioscience by 9.4% during the 2nd quarter. First Light Asset Management LLC now owns 5,951,014 shares of the medical instruments supplier’s stock worth $31,838,000 after acquiring an additional 509,724 shares during the period. Rhumbline Advisers purchased a new position in shares of Harvard Bioscience during the 2nd quarter worth $164,000. Dimensional Fund Advisors LP raised its holdings in shares of Harvard Bioscience by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,940 shares of the medical instruments supplier’s stock worth $10,368,000 after acquiring an additional 70,805 shares during the period. Finally, Granahan Investment Management Inc. MA raised its holdings in shares of Harvard Bioscience by 11.8% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 1,075,363 shares of the medical instruments supplier’s stock worth $5,753,000 after acquiring an additional 113,716 shares during the period. Institutional investors and hedge funds own 73.03% of the company’s stock.
Several research firms have recently commented on HBIO. Zacks Investment Research lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine lowered shares of Harvard Bioscience from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd.
In related news, CFO Robert E. Gagnon sold 8,889 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $5.77, for a total value of $51,289.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.60% of the stock is currently owned by insiders.
Shares of HBIO opened at $4.05 on Friday. The stock has a market capitalization of $152.53 million, a P/E ratio of 81.00 and a beta of 1.29. Harvard Bioscience, Inc. has a 12-month low of $3.00 and a 12-month high of $6.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.49 and a current ratio of 2.83.
Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings data on Thursday, October 25th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $28.71 million for the quarter, compared to analyst estimates of $28.50 million. Harvard Bioscience had a negative net margin of 4.18% and a positive return on equity of 5.54%. Analysts expect that Harvard Bioscience, Inc. will post 0.12 earnings per share for the current year.
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Harvard Bioscience Profile
Harvard Bioscience, Inc develops, manufactures, and markets scientific instruments, systems, and lab consumables 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, and electroporation instruments that are marketed under the Biochrom, Libra, WPA, BioDrop, Hoefer, Scie-plas, and BTX brand names.
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