HBIO Chart
About

Harvard Bioscience, Inc. develops, manufactures, and sells technologies, products, and services for life science applications in the Americas, Europe, the Middle East, Africa, Asia, and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings. It provides preclinical products that includes platform to assess physiological data from organisms for research, drug discovery, and drug development services comprising implantable and externally worn telemetry systems for use in research to collect cardiovascular, central nervous system, respiratory, and metabolic data; behavioral products; isolated organ and surgical products, instruments and accessories for tissue, and organ-based lab research, including surgical products, infusion systems, and behavior research systems; turn-key respiratory system solutions, including plethysmograph chambers, data acquisition hardware, physiological signal analysis software, and final report generation; inhalation and exposure systems; and GLP-capable data acquisition and analysis systems. The company markets its products through websites and distributors to research scientists in pharmaceutical and biotechnology companies, universities, hospitals, and government laboratories; and contract research organizations and academic laboratories. It primarily sells its products under the Harvard Apparatus, Biochrom, BTX, HEKA, KD Scientific, MCS, Warner, DSI, Panlab, Hugo Sachs, and Buxco brands. Harvard Bioscience, Inc. was founded in 1901 and is based in Holliston, Massachusetts.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Instruments & Su Market Cap 214.27M
Enterprise Value 49.60M Income -56.70M Sales 86.55M
Book/sh 3.08 Cash/sh 1.93 Dividend Yield
Payout 0.00% Employees IPO
P/E Forward P/E 6.06 PEG
P/S 2.48 P/B 1.58 P/C
EV/EBITDA 8.24 EV/Sales 0.57 Quick Ratio 1.12
Current Ratio 2.20 Debt/Eq 261.18 LT Debt/Eq
EPS (ttm) -1.28 EPS next Y 0.80 EPS Growth
Revenue Growth -3.30% Earnings 2026-05-11 ROA 0.04%
ROE -147.13% ROIC Gross Margin 57.67%
Oper. Margin 7.21% Profit Margin -65.51% Shs Outstand 44.18M
Shs Float 3.51M Short Float 1.33% Short Ratio 0.88
Short Interest 52W High 9.50 52W Low 2.80
Beta 1.45 Avg Volume 44.93K Volume 17.77K
Target Price $6.00 Recom Buy Prev Close $5.01
Price $4.85 Change -3.19%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$6.00
Mean price target
2. Current target
$4.87
Latest analyst target
3. DCF / Fair value
$3.84
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.87
Low
$6.00
High
$6.00
Mean
$6.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-13 main Benchmark Speculative Buy → Speculative Buy $1
2025-09-10 main Benchmark Speculative Buy → Speculative Buy $2
2025-05-13 main Benchmark Speculative Buy → Speculative Buy $3
2025-04-09 down Keybanc Overweight → Sector Weight
2025-04-08 down Keybanc Overweight → Sector Weight
2025-03-24 main Benchmark Speculative Buy → Speculative Buy $5
2023-06-22 reit Benchmark Speculative Buy → Speculative Buy $7
2023-04-26 main Benchmark — → Buy $7
2023-04-26 main Keybanc — → Overweight $7
2023-03-10 reit Benchmark — → Buy $4
2022-11-09 main Keybanc — → Overweight $5
2022-08-05 main Keybanc — → Overweight $7
2020-11-10 init Keybanc — → Overweight $6
2020-02-27 main Benchmark — → Speculative Buy $4
2016-11-17 init Singular Research — → Buy $6
2015-07-28 init Benchmark — → Buy $8
2013-11-26 up Sidoti & Co. Neutral → Buy
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 110000 Stock Award(Grant) at price 0.00 per share. SNIDER WILLIAM Director 2025-12-17 00:00:00 D
1 110000 Stock Award(Grant) at price 0.00 per share. DENELSKY STEPHEN J Director 2025-09-05 00:00:00 D
2 1000000 Stock Award(Grant) at price 0.00 per share. DUKE JOHN D. Chief Executive Officer 2025-08-08 00:00:00 D
3 110000 Stock Award(Grant) at price 0.00 per share. GAGNON ROBERT E Director 2025-07-16 00:00:00 D
4 110000 Stock Award(Grant) at price 0.00 per share. EADE KATHERINE ANNE Director 2025-07-16 00:00:00 D
5 110000 Stock Award(Grant) at price 0.00 per share. BENSON SETH BENJAMIN Director 2025-07-16 00:00:00 D
6 100000 Stock Award(Grant) at price 0.00 per share. FROST MARK T Chief Financial Officer 2025-05-12 00:00:00 D
7 10000 29100 Purchase at price 2.91 per share. GREEN JAMES W Chief Executive Officer 2024-06-13 00:00:00 D
8 20000 61400 Purchase at price 3.07 per share. GREEN JAMES W Chief Executive Officer 2024-06-06 00:00:00 D
9 45872 Stock Award(Grant) at price 0.00 per share. LOEWALD THOMAS W Director 2024-05-21 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-334.53K-132.72K48.93K0.00
TaxRateForCalcs0.210.210.210.27
NormalizedEBITDA294.00K8.66M711.00K9.02M
TotalUnusualItems-1.59M-632.00K233.00K0.00
TotalUnusualItemsExcludingGoodwill-1.59M-632.00K233.00K0.00
NetIncomeFromContinuingOperationNetMinorityInterest-12.40M-3.42M-9.52M-288.00K
ReconciledDepreciation7.16M7.00M7.58M7.62M
ReconciledCostOfRevenue37.47M44.71M51.06M49.47M
EBITDA-1.30M8.03M944.00K9.02M
EBIT-8.46M1.03M-6.63M1.40M
NetInterestIncome-3.21M-3.59M-2.55M-1.54M
InterestExpense3.21M3.59M2.55M1.54M
NormalizedIncome-11.15M-2.92M-9.70M-288.00K
NetIncomeFromContinuingAndDiscontinuedOperation-12.40M-3.42M-9.52M-288.00K
TotalExpenses100.35M110.36M120.50M116.84M
TotalOperatingIncomeAsReported-6.21M1.89M-6.93M2.07M
DilutedAverageShares43.54M42.42M41.41M40.34M
BasicAverageShares43.54M42.42M41.41M40.34M
DilutedEPS-0.28-0.08-0.23-0.01
BasicEPS-0.28-0.08-0.23-0.01
DilutedNIAvailtoComStockholders-12.40M-3.42M-9.52M-288.00K
NetIncomeCommonStockholders-12.40M-3.42M-9.52M-288.00K
NetIncome-12.40M-3.42M-9.52M-288.00K
NetIncomeIncludingNoncontrollingInterests-12.40M-3.42M-9.52M-288.00K
NetIncomeContinuousOperations-12.40M-3.42M-9.52M-288.00K
TaxProvision740.00K859.00K337.00K148.00K
PretaxIncome-11.66M-2.56M-9.18M-140.00K
OtherIncomeExpense-2.25M-859.00K535.00K-666.00K
OtherNonOperatingIncomeExpenses-652.00K-227.00K302.00K-666.00K
SpecialIncomeCharges0.00233.00K0.00
OtherSpecialCharges-233.00K
GainOnSaleOfSecurity-1.59M-632.00K
NetNonOperatingInterestIncomeExpense-3.21M-3.59M-2.55M-1.54M
InterestExpenseNonOperating3.21M3.59M2.55M1.54M
OperatingIncome-6.21M1.89M-7.17M2.07M
OperatingExpense60.98M64.18M67.98M65.59M
OtherOperatingExpenses1.61M71.00K
DepreciationAmortizationDepletionIncomeStatement5.25M5.53M6.12M5.84M
DepreciationAndAmortizationInIncomeStatement5.25M5.53M6.12M5.84M
Amortization5.25M5.53M6.12M5.84M
AmortizationOfIntangiblesIncomeStatement5.25M5.53M6.12M5.84M
ResearchAndDevelopment10.41M11.76M12.33M10.80M
SellingGeneralAndAdministration43.70M46.82M49.53M48.95M
SellingAndMarketingExpense22.21M24.06M25.04M24.64M
GeneralAndAdministrativeExpense21.49M22.76M24.49M24.30M
OtherGandA21.49M22.76M24.49M24.30M
GrossProfit54.77M66.07M60.82M67.65M
CostOfRevenue39.37M46.18M52.52M51.25M
TotalRevenue94.14M112.25M113.33M118.90M
OperatingRevenue94.14M112.25M113.33M118.90M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber44.07M43.39M42.08M41.14M
ShareIssued44.07M43.39M42.08M41.14M
NetDebt32.85M32.28M42.32M40.51M
TotalDebt44.49M42.77M54.24M56.96M
TangibleBookValue-4.12M-27.00K-5.05M-1.67M
InvestedCapital100.30M109.64M119.04M131.73M
WorkingCapital-9.84M22.50M27.88M36.27M
NetTangibleAssets-4.12M-27.00K-5.05M-1.67M
CapitalLeaseObligations7.54M6.21M7.42M8.63M
CommonStockEquity63.34M73.07M72.22M83.40M
TotalCapitalization63.34M103.78M115.23M128.50M
TotalEquityGrossMinorityInterest63.34M73.07M72.22M83.40M
StockholdersEquity63.34M73.07M72.22M83.40M
GainsLossesNotAffectingRetainedEarnings-15.67M-14.19M-15.05M-10.03M
OtherEquityAdjustments-15.67M-14.19M-15.05M-10.03M
TreasuryStock0.000.00
RetainedEarnings-158.01M-145.60M-142.19M-132.67M
AdditionalPaidInCapital236.58M232.44M229.01M225.65M
CapitalStock441.00K434.00K454.00K452.00K
CommonStock441.00K434.00K454.00K452.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest63.30M64.29M73.14M78.94M
TotalNonCurrentLiabilitiesNetMinorityInterest8.35M37.75M49.89M53.63M
OtherNonCurrentLiabilities1.25M1.48M1.01M486.00K
NonCurrentDeferredLiabilities710.00K776.00K590.00K1.56M
NonCurrentDeferredTaxesLiabilities710.00K776.00K590.00K1.56M
LongTermDebtAndCapitalLeaseObligation6.38M35.50M48.30M51.58M
LongTermCapitalLeaseObligation6.38M4.79M5.28M6.49M
LongTermDebt30.70M43.01M45.09M
CurrentLiabilities54.96M26.54M23.25M25.32M
OtherCurrentLiabilities6.54M5.28M4.01M4.25M
CurrentDeferredLiabilities3.81M4.51M3.37M4.27M
CurrentDeferredRevenue3.81M4.51M3.37M4.27M
CurrentDebtAndCapitalLeaseObligation38.11M7.28M5.95M5.38M
CurrentCapitalLeaseObligation1.16M1.42M2.13M2.14M
CurrentDebt36.96M5.86M3.81M3.23M
OtherCurrentBorrowings36.96M5.86M3.81M3.23M
PensionandOtherPostRetirementBenefitPlansCurrent1.71M3.93M3.48M6.05M
CurrentProvisions268.00K240.00K
PayablesAndAccruedExpenses4.79M5.55M6.45M5.13M
Payables4.79M5.55M6.45M5.13M
TotalTaxPayable0.00224.00K
IncomeTaxPayable0.00224.00K
AccountsPayable4.79M5.55M6.45M4.91M
TotalAssets126.64M137.37M145.36M162.34M
TotalNonCurrentAssets81.53M88.33M94.24M100.76M
OtherNonCurrentAssets2.83M6.47M7.78M5.38M
GoodwillAndOtherIntangibleAssets67.46M73.10M77.27M85.07M
OtherIntangibleAssets11.13M16.04M21.01M27.39M
Goodwill56.32M57.06M56.26M57.69M
NetPPE11.24M8.75M9.18M10.31M
AccumulatedDepreciation-15.82M-14.38M-14.85M-14.45M
GrossPPE27.06M23.14M24.03M24.76M
Leases2.56M2.42M2.51M2.56M
OtherProperties6.13M4.77M5.82M6.90M
MachineryFurnitureEquipment18.36M15.95M15.71M15.30M
Properties0.000.000.000.00
CurrentAssets45.12M49.04M51.12M61.58M
OtherCurrentAssets2.90M3.94M3.47M4.34M
Inventory23.25M24.72M26.44M27.59M
FinishedGoods5.22M5.12M5.22M5.65M
WorkInProcess2.75M4.19M3.78M3.41M
RawMaterials15.27M15.41M17.44M18.53M
Receivables14.87M16.10M16.70M21.83M
AccountsReceivable14.87M16.10M16.70M21.83M
AllowanceForDoubtfulAccountsReceivable-215.00K-160.00K-191.00K-136.00K
GrossAccountsReceivable15.08M16.26M16.90M21.97M
CashCashEquivalentsAndShortTermInvestments4.11M4.28M4.51M7.82M
CashAndCashEquivalents4.11M4.28M4.51M7.82M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-1.82M11.72M-438.00K-83.00K
RepaymentOfDebt-8.57M-15.04M-9.59M-4.20M
IssuanceOfDebt8.80M4.50M7.80M4.25M
CapitalExpenditure-3.26M-2.31M-1.59M-1.34M
InterestPaidSupplementalData3.23M3.79M2.31M1.58M
IncomeTaxPaidSupplementalData207.00K534.00K577.00K
EndCashPosition4.11M4.28M4.51M7.82M
BeginningCashPosition4.28M4.51M7.82M8.32M
EffectOfExchangeRateChanges-140.00K-320.00K-38.00K-161.00K
ChangesInCash-35.00K95.00K-3.27M-335.00K
FinancingCashFlow-131.00K-12.13M-2.84M-252.00K
CashFlowFromContinuingFinancingActivities-131.00K-12.13M-2.84M-252.00K
NetOtherFinancingCharges-738.00K-2.52M-1.63M-3.62M
ProceedsFromStockOptionExercised380.00K930.00K577.00K3.31M
NetIssuancePaymentsOfDebt227.00K-10.54M-1.79M50.00K
NetShortTermDebtIssuance1.40M2.05M
ShortTermDebtPayments-6.40M-2.20M
ShortTermDebtIssuance7.80M4.25M
NetLongTermDebtIssuance227.00K-10.54M-1.79M-2.00M
LongTermDebtPayments-8.57M-15.04M-9.59M-2.00M
LongTermDebtIssuance8.80M4.50M7.80M4.25M
InvestingCashFlow-1.34M-1.80M-1.59M-1.34M
CashFlowFromContinuingInvestingActivities-1.34M-1.80M-1.59M-1.34M
NetInvestmentPurchaseAndSale1.92M0.00
SaleOfInvestment1.92M0.00
NetBusinessPurchaseAndSale0.00512.00K0.00
SaleOfBusiness0.00512.00K0.00
NetIntangiblesPurchaseAndSale0.00-150.00K
PurchaseOfIntangibles0.00-150.00K
NetPPEPurchaseAndSale-2.64M-1.79M-1.59M-1.20M
PurchaseOfPPE-2.64M-1.79M-1.59M-1.20M
CapitalExpenditureReported-619.00K-523.00K0.00
OperatingCashFlow1.44M14.03M1.15M1.26M
CashFlowFromContinuingOperatingActivities1.44M14.03M1.15M1.26M
ChangeInWorkingCapital65.00K4.60M2.72M-10.19M
ChangeInOtherWorkingCapital-702.00K1.14M-896.00K505.00K
ChangeInOtherCurrentLiabilities-1.08M-495.00K-2.56M
ChangeInOtherCurrentAssets1.64M1.65M474.00K-439.00K
ChangeInPayablesAndAccruedExpense-1.78M-523.00K-1.40M2.45M
ChangeInPayable-1.78M-523.00K-1.40M
ChangeInAccountPayable-1.78M-523.00K-1.40M
ChangeInInventory-64.00K1.52M252.00K-5.86M
ChangeInReceivables974.00K810.00K4.78M-4.29M
ChangesInAccountReceivables974.00K810.00K4.78M-4.29M
OtherNonCashItems327.00K280.00K-3.62M280.00K
StockBasedCompensation4.34M5.00M4.41M4.17M
UnrealizedGainLossOnInvestmentSecurities632.00K0.00
DeferredTax363.00K336.00K-414.00K-330.00K
DeferredIncomeTax363.00K336.00K-414.00K-330.00K
DepreciationAmortizationDepletion7.16M7.00M7.58M7.62M
DepreciationAndAmortization7.16M7.00M7.58M7.62M
AmortizationCashFlow5.43M5.53M6.12M5.84M
AmortizationOfIntangibles5.43M5.53M6.12M5.84M
Depreciation1.73M1.47M1.45M1.78M
OperatingGainsLosses1.59M229.00K
GainLossOnInvestmentSecurities1.59M632.00K
GainLossOnSaleOfBusiness0.00-403.00K0.00
NetIncomeFromContinuingOperations-12.40M-3.42M-9.52M-288.00K
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for HBIO
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status