Cadence Capital Management LLC Invests $1.85 Million in Harvard Bioscience, Inc. (HBIO)

Cadence Capital Management LLC acquired a new position in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 352,396 shares of the medical instruments supplier’s stock, valued at approximately $1,850,000. Cadence Capital Management LLC owned 0.96% of Harvard Bioscience at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Engineers Gate Manager LP acquired a new stake in shares of Harvard Bioscience during the 3rd quarter worth approximately $112,000. Mackay Shields LLC acquired a new stake in shares of Harvard Bioscience during the 2nd quarter worth approximately $160,000. Rhumbline Advisers acquired a new stake in shares of Harvard Bioscience during the 2nd quarter worth approximately $164,000. Russell Investments Group Ltd. grew its stake in shares of Harvard Bioscience by 41.7% during the 1st quarter. Russell Investments Group Ltd. now owns 37,058 shares of the medical instruments supplier’s stock worth $186,000 after purchasing an additional 10,900 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Harvard Bioscience by 255.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,592 shares of the medical instruments supplier’s stock worth $367,000 after purchasing an additional 49,292 shares during the period. 73.03% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Robert E. Gagnon sold 8,889 shares of Harvard Bioscience stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $5.77, for a total value of $51,289.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.60% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on HBIO. Zacks Investment Research raised shares of Harvard Bioscience from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Wednesday, August 1st. ValuEngine cut shares of Harvard Bioscience from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd.

Harvard Bioscience stock opened at $4.05 on Friday. Harvard Bioscience, Inc. has a 1 year low of $3.00 and a 1 year high of $6.70. The firm has a market capitalization of $152.53 million, a P/E ratio of 81.00 and a beta of 1.29. 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 released its quarterly earnings results on Thursday, October 25th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Harvard Bioscience had a negative net margin of 4.18% and a positive return on equity of 5.54%. The firm had revenue of $28.71 million for the quarter, compared to analysts’ expectations of $28.50 million. As a group, analysts forecast that Harvard Bioscience, Inc. will post 0.12 EPS for the current year.

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About Harvard Bioscience

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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Institutional Ownership by Quarter for Harvard Bioscience (NASDAQ:HBIO)

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