Caisse Des Depots ET Consignations Sells 7,835 Shares of Harrow, Inc. (NASDAQ:HROW)

Key Points

• Caisse Des Depots ET Consignations reduced its holdings in Harrow, Inc. by 32.9%, selling 7,835 shares during Q1, now owning 15,950 shares valued at $424,000.
• Harrow reported a negative earnings per share of ($0.38) for the latest quarter, missing analysts' expectations, with revenue of $47.83 million compared to a $57 million consensus estimate.
• Analysts maintain a consensus "Buy" rating for Harrow, with an average price target of $63.83, reflecting optimism about the company's future performance.

Caisse Des Depots ET Consignations cut its stake in Harrow, Inc. (NASDAQ:HROW - Free Report) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,950 shares of the company's stock after selling 7,835 shares during the quarter. Caisse Des Depots ET Consignations' holdings in Harrow were worth $424,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Harrow by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,872,100 shares of the company's stock valued at $62,809,000 after purchasing an additional 5,225 shares in the last quarter. Braidwell LP increased its stake in Harrow by 106.3% in the fourth quarter. Braidwell LP now owns 907,039 shares of the company's stock valued at $30,431,000 after purchasing an additional 467,401 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Harrow by 6.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 664,714 shares of the company's stock valued at $22,301,000 after purchasing an additional 41,896 shares in the last quarter. Royce & Associates LP increased its stake in Harrow by 12.0% in the first quarter. Royce & Associates LP now owns 327,096 shares of the company's stock valued at $8,701,000 after purchasing an additional 35,006 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Harrow by 7.5% in the fourth quarter. Northern Trust Corp now owns 319,084 shares of the company's stock valued at $10,705,000 after purchasing an additional 22,266 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HROW shares. Cantor Fitzgerald began coverage on shares of Harrow in a research note on Friday, July 11th. They issued an "overweight" rating and a $76.00 target price for the company. William Blair began coverage on Harrow in a research report on Tuesday, June 10th. They set an "outperform" rating on the stock. HC Wainwright raised their price target on Harrow from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, BTIG Research began coverage on Harrow in a research report on Thursday, June 12th. They set a "buy" rating and a $62.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harrow has a consensus rating of "Buy" and an average target price of $63.83.

Harrow Stock Up 3.7%

Harrow stock traded up $1.22 during midday trading on Friday, reaching $34.43. The stock had a trading volume of 531,221 shares, compared to its average volume of 464,528. The firm's fifty day simple moving average is $32.44 and its 200-day simple moving average is $28.75. Harrow, Inc. has a 1-year low of $20.85 and a 1-year high of $59.23. The stock has a market capitalization of $1.26 billion, a P/E ratio of -61.48 and a beta of 0.41. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.85 and a current ratio of 0.91.

Harrow (NASDAQ:HROW - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.40). The firm had revenue of $47.83 million during the quarter, compared to analyst estimates of $57.00 million. Harrow had a negative net margin of 10.19% and a negative return on equity of 25.01%. As a group, analysts expect that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.