NasdaqGM:HBIO

Stock Analysis Report

Executive Summary

Harvard Bioscience, Inc. provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing.

Snowflake

Fundamentals

Moderate growth potential and overvalued.

Risks

  • Harvard Bioscience has significant price volatility in the past 3 months.
  • Harvard Bioscience is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Harvard Bioscience's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

8.9%

NasdaqGM:HBIO

-2.2%

US Life Sciences

-1.9%

US Market


1 Year Return

-55.2%

NasdaqGM:HBIO

5.1%

US Life Sciences

-3.3%

US Market

HBIO underperformed the Life Sciences industry which returned 5.2% over the past year.

HBIO underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

HBIOIndustryMarket
7 Day8.9%-2.2%-1.9%
30 Day-0.4%-6.2%-6.2%
90 Day16.5%-1.0%0.3%
1 Year-55.2%-55.2%5.3%5.1%-1.1%-3.3%
3 Year3.5%3.5%67.1%65.8%37.9%28.9%
5 Year-40.5%-40.5%104.5%94.8%50.8%34.1%

Price Volatility Vs. Market

How volatile is Harvard Bioscience's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Harvard Bioscience undervalued based on future cash flows and its price relative to the stock market?

17%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Harvard Bioscience's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Harvard Bioscience's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Harvard Bioscience is overvalued based on earnings compared to the US Life Sciences industry average.

Harvard Bioscience is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Harvard Bioscience is poor value based on expected growth next year.


Price Based on Value of Assets

Harvard Bioscience is good value based on assets compared to the US Life Sciences industry average.


Next Steps

Future Growth

How is Harvard Bioscience expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

51.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Harvard Bioscience's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).

Harvard Bioscience's earnings are expected to grow significantly at over 20% yearly.

Harvard Bioscience's revenue growth is positive but not above the United States of America market average.

Harvard Bioscience's earnings growth is expected to exceed the United States of America market average.

Harvard Bioscience's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Harvard Bioscience will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.


Next Steps

Past Performance

How has Harvard Bioscience performed over the past 5 years?

-4.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Harvard Bioscience's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Harvard Bioscience has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.

Harvard Bioscience has become profitable in the last year making it difficult to compare the US Life Sciences industry average.


Return on Equity

Harvard Bioscience has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Harvard Bioscience used its assets less efficiently than the US Life Sciences industry average last year based on Return on Assets.


Return on Capital Employed

Harvard Bioscience has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).


Next Steps

Financial Health

How is Harvard Bioscience's financial position?


Financial Position Analysis

Harvard Bioscience is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Harvard Bioscience's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Harvard Bioscience's level of debt (69%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (22.7% vs 69% today).

Debt is not well covered by operating cash flow (6.9%, less than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 0.7x annual interest expense, ideally 3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.9x debt.


Next Steps

Dividend

What is Harvard Bioscience's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Harvard Bioscience's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Harvard Bioscience's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Harvard Bioscience has not reported any payouts.

Unable to verify if Harvard Bioscience's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Harvard Bioscience has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Harvard Bioscience's salary, the management and board of directors tenure and is there insider trading?

1.8yrs

Average board tenure


CEO

Jim Green (61yo)

0.1yrs

Tenure

US$153,445

Compensation

Mr. James W. Green, also known as Jim, has been Chairman of Harvard Bioscience, Inc. since June 5, 2017 and has been its Independent Director since April 30, 2015. He serves as President and Chief Executiv ...


Board Age and Tenure

1.8yrs

Average Tenure

55yo

Average Age

The average tenure for the Harvard Bioscience board of directors is less than 3 years, this suggests a new board.


Insider Trading

More shares have been bought than sold by Harvard Bioscience individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$50,52420 Aug 19
Thomas Loewald
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20,000
Max PriceUS$2.53
BuyUS$24,85019 Aug 19
James Green
EntityIndividual
Role
Chief Executive Officer
President
Shares10,000
Max PriceUS$2.49
BuyUS$49,32012 Aug 19
James Green
EntityIndividual
Role
Chief Executive Officer
President
Shares20,000
Max PriceUS$2.47
BuyUS$98,83012 Aug 19
Katherine Eade
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares39,915
Max PriceUS$2.48
BuyUS$6,860,28518 Jul 19
Engine Capital Management, LLC
EntityCompany
Shares3,209,490
Max PriceUS$2.14
BuyUS$14,35006 Feb 19
James Green
EntityIndividual
Role
Chief Executive Officer
President
Shares2,500
Max PriceUS$5.74
SellUS$51,29030 Aug 18
Robert Gagnon
EntityIndividual
Shares8,889
Max PriceUS$5.77

Ownership Breakdown


Management Team

  • Jim Green (61yo)

    President

    • Tenure: 0.1yrs
    • Compensation: US$153.45k
  • Michael Rossi (45yo)

    Chief Financial Officer

    • Tenure: 0.1yrs
  • Corey Manchester

    VP & Corporate Controller

    • Tenure: 0.0yrs
  • David Sirois

    Director of Corporate Accounting & SEC Reporting

    • Tenure: 0.0yrs

Board Members

  • John Kennedy (70yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$142.31k
  • Bertrand Loy (53yo)

    Lead Independent Director

    • Tenure: 0.1yrs
    • Compensation: US$129.15k
  • Jim Green (61yo)

    President

    • Tenure: 0.1yrs
    • Compensation: US$153.45k
  • Tom Loewald (55yo)

    Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$125.02k
  • Katherine Eade (45yo)

    Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$122.23k

Company Information

Harvard Bioscience, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Harvard Bioscience, Inc.
  • Ticker: HBIO
  • Exchange: NasdaqGM
  • Founded: 1901
  • Industry: Life Sciences Tools and Services
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$102.344m
  • Shares outstanding: 38.05m
  • Website: https://www.harvardbioscience.com

Number of Employees


Location

  • Harvard Bioscience, Inc.
  • 84 October Hill Road
  • Suite 10
  • Holliston
  • Massachusetts
  • 1746
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HBIONasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDDec 2000
HBIDB (Deutsche Boerse AG)YesCommon StockDEEURDec 2000

Biography

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 phy ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 23:38
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.