Benchmark Lowers Harvard Bioscience (NASDAQ:HBIO) to Buy

Harvard Bioscience (NASDAQ:HBIO) was downgraded by analysts at Benchmark to a “buy” rating in a research note issued to investors on Monday, The Fly reports.

HBIO has been the subject of several other research reports. ValuEngine cut Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Zacks Investment Research upgraded shares of Harvard Bioscience from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Tuesday, November 12th.

NASDAQ HBIO opened at $2.94 on Monday. The business’s 50-day moving average price is $2.85 and its 200 day moving average price is $2.54. Harvard Bioscience has a twelve month low of $1.51 and a twelve month high of $4.66. The company has a market capitalization of $111.91 million, a PE ratio of 19.60 and a beta of 1.49. The company has a current ratio of 2.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.78.

In other news, insider Value Fund Lp Palogic purchased 66,868 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $1.29 per share, with a total value of $86,259.72. Also, Director Bertrand Loy purchased 15,590 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $3.01 per share, with a total value of $46,925.90. The disclosure for this purchase can be found here. Insiders have purchased 125,401 shares of company stock valued at $248,345 in the last ninety days. 5.40% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Engine Capital Management LP purchased a new position in shares of Harvard Bioscience in the 2nd quarter worth about $3,736,000. Dalton Greiner Hartman Maher & Co. increased its position in Harvard Bioscience by 1,207.4% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 1,155,376 shares of the medical instruments supplier’s stock worth $2,311,000 after purchasing an additional 1,067,007 shares in the last quarter. Granahan Investment Management Inc. MA raised its holdings in Harvard Bioscience by 91.8% in the third quarter. Granahan Investment Management Inc. MA now owns 1,771,964 shares of the medical instruments supplier’s stock valued at $5,449,000 after buying an additional 848,191 shares during the period. Millennium Management LLC raised its holdings in Harvard Bioscience by 982.2% in the third quarter. Millennium Management LLC now owns 645,331 shares of the medical instruments supplier’s stock valued at $1,984,000 after buying an additional 585,701 shares during the period. Finally, River & Mercantile Asset Management LLP purchased a new position in Harvard Bioscience in the second quarter valued at approximately $1,114,000. Institutional investors own 64.31% 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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